QAFIP buys Marriott property in Barcelona

February 4, 2014 10:01 am

Qatar Armed Forces Investment Portfolio (QAFIP), a unit of Qatar’s military army, has acquired the five-star Renaissance hotel in central Barcelona for €78.5m, Gulf Times has reported. The hotel will continue to be operated by Marriott under a long-term management contract. “Our objective is to invest in the most important cities, and Barcelona is one of them. We are also looking for interests in London and Paris,” said QAFIP representative, Gen. Zani al-Kuwari, who is also assistant chief of staff for financial affairs.