Doha, Qatar – January 07, 2009 --- Qatar National Hotels Company (QNH) proudly announces the acquisition of a highly innovative 5-star international hotel and food chain group for QR 1 Billion.

The acquired company's activities include hotel, spa, restaurant, and related merchandise and entertainment industries. Its portfolio currently consists of 100 restaurants and hotels in operation or in the pipeline within the coming 2 to 3 years situated around the globe.
Countries include the United States, Brazil, Australia, UK, Ireland, Russian Federation, France, Switzerland, Austria, Sweden, The Netherlands, Belgium, Spain, Germany, Romania, Turkey, Ukraine, Yugoslavia, Czech Republic, Dominican Republic, Hungary, Slovenia, India, China, Kazakhstan, Azerbaijan, Indonesia, Senegal, Pakistan, Macau, Panama, Singapore, Monaco, Morocco, Tunis, Egypt, Lebanon, Jordan, UAE, Qatar and Bahrain.
His Excellency Sheikh Nawaf bin Jassim bin Jabor Al Thani, Chairman of QNH, said: "The timing of this acquisition reflects the Company's ability to acquire existing assets with growth potential, which in this case will be driven by QNH's active asset management." He adds: "We have been very fortunate these past few years and are now looking to exceed what we have been praised for by delivering a spectacular level of global business growth and investment success for the future."
The 1 billion Qatari Riyal capital invested is to be recovered over the course of an estimated eight years with the current global economy situation. This investment is a part of QNH's rapid expansion strategy and follows its various international investments over the past two years of acquiring properties in Europe and the Middle East.
QNH is an asset management company, developer and operator and is wholly owned by the Government of Qatar. The company's successful hotel network has grown into a fusion of hospitality expertise expanding into the countries surrounding the region and internationally.
The company's achievements supported by a dynamic portfolio of future projects in Qatar and abroad, firmly establish QNH as the dominant hotel owner in Qatar and one of the leading hotel specialists companies in the region.