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London W Hotel sold to Qatar for $313 million


Imthishan Giado, September 19th, 2011

UPDATE 2: Hotels Magazine has confirmed that the previously unnamed investor is Al Faisal Holding, which is owned Sheikh Faisal Bin Qassim Al Thani, a member of the Qatari royal family.

UPDATE : The developer of London's W Hotel in Leicester Square, has confirmed that it is selling the property to an anonymous Qatari investor.

Bloomberg reports the site is being sold for $313 million, slightly higher than the figure of $300 million that was touted in an earlier Reuters report.

The Northern Ireland developer has had the property on the market since its opening in February this year.

Formerly known as the Swiss Centre, the 10-storey hotel has 192 rooms and Michelin-starred restaurant as a key attraction. It also hosts the European flagship store of Mars Inc.'s M&Ms.