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 Qatar investment firm Jaidah acquired Venice's Hotel For $117 million

starwood-qatar.jpgA wholly owned subsidiary of Qatar conglomerate Jaidah Holdings has acquired The Gritti Palace hotel in Venice for $117 million.

The seller is Starwood Hotels & Resorts Worldwide and will continue to manage the property under what it said was a new long-term management agreement. The buyer, Nozul Hotels & Resorts, is the owner of W Doha Hotel.

Jaidah Holdings is listed in the Middle East Investors Directory with the code SMA88.

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