Amsterdam’s most prestigious hotel is ‘up for sale… again’

On the waterfront. Photo:
On the waterfront. Photo:

Amsterdam’s most prestigious hotel, the 151-year-old Amstel is up for sale…. again, according to the Parool.

The majestic hotel, located on the eastern bank of the Amstel river, is now owned by Katara Hospitality, a unit of the Qatar Investmment Authority, the $335bn sovereign wealth fund of the Middle East oil and gas producer.

The hotel is a popular base for the rich and famous who visit the Netherlands, including the Rolling Stones.

Katara Hospitality picked up the Amstel for €63.2m in 2014. This equates to about €800,000 a room, making the Amstel even four years ago one of the world’s most expensive hotel properties.

The Amstel’s 111 rooms have been transformed into 79 rooms and suites. The hotel is managed by IHG, which has a long-term contract to operate it under its top InterContinental brand.

The Qataris are currently offloading assets because of the trade boycott launched against them last June by Saudi Arabia and the UAE due to alleged ties with terrorists. The QIA has already sold stakes in Tiffany’s and Credit Suisse.

It is unclear how much the Amstel will fetch this time round. Europe’s premier hotel broker Jones Lang Lasalle of London is handling the sale.

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