QIA buys historic St. Regis New York for $310 million

(New York)

Bloomberg  has reported that the Qatar Investment Authority (QIA) has acquired the historic St. Regis New York from Marriott International Inc. for $310 million.

The St. Regis New York, an 18-story building which contains more than 200 guest rooms originally opened by John Jacob Astor IV in 1904, is a historic property that served as the launching point for an indispensable cocktail and global luxury brand.  The article went on to note that Marriott will continue to operate the hotel under a long-term contract with QIA.

Read the original article on Bloomberg: QIA acquires St. Regis New York