Qatar plans line of hotels under its Harrods brand
DUBAI, United Arab Emirates (AP) — The Qatari owners of Harrods department store are planning to launch a line of hotels branded with the name of the London landmark.
Qatar Holding said in a statement sent Wednesday it is aiming to open Harrods hotels in several cities, including London, New York and Paris.
It says it signed a deal Tuesday with Malaysian property developer Jerantas to study the launch of a Harrods hotel in the Southeast Asian country's capital, Kuala Lumpur. Financial terms weren't disclosed.
Qatar Holding bought Harrods from businessman Mohamed Al Fayed for a reported $2.2 billion in 2010.
Qatar Holding is the main investment arm of natural gas-rich Qatar's sovereign wealth fund. Its holdings include stakes in British bank Barclays, French luxury conglomerate LVMH Moet Hennessy Louis Vuitton and high-end American jeweler Tiffany.
