Qatar Investment Authority Sees Opportunity in Storied St. Regis Hotel in Manhattan
Posted on 11/06/2019
The Qatar Investment Authority (QIA) has paid Marriott Corporation US$ 310 million to take over the St. Regis Hotel in Manhattan. Marriott will retain day to day operation management on behalf of QIA. QIA already purchased the San Francisco St. Regis from Marriott in 2016. Qatar has shown an affinity for luxury hotels in recent years. QIA’s Katara Hospitality also bought The Plaza Hotel in New York. It was once owned by U.S. President Donald Trump and featured in the motion picture, Home Alone 2. The hotel still offers a “Home Alone 2” experience. The New York St. Regis was opened to the public in 1904. John Jacob Astor IV, who was lost on the Titanic, built the hotel. A notable feature is the King Cole Bar, with a painting by famed artist of yesteryear Maxfield Parrish. Fernand Petiot, working at the bar at the St. Regis, invented the Bloody Mary in 1934.
