Qatar Investment Authority Acquires Midtown Hotel From Marriott Hotels For $310M

The Qatar Investment Authority (QIA) has acquired the hotel property located at 2 East 55th Street in Midtown, New York. The hotel, known as St. Regis New York, was sold by Marriott Hotels. The transaction was closed on October 31, 2019, for a total price of $310,000,000. This luxury hotel consists of 229 keys, with a price per key of approximately $1.35 million.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $310,000,000
• Address: 2 East 55th Street, Midtown, New York
• Market: Midtown

The buyer, Qatar Investment Authority (QIA), is a sovereign wealth fund with a total asset under management (AUM) of $328 billion. The seller, Marriott Hotels, is a well-established hotel chain. The acquisition of St. Regis New York by QIA highlights their interest in expanding their portfolio in the hospitality industry.

Note that QIA aims to raise further capital, as reported by Reuters, indicating their continued investment plans in various sectors.