Iranian investor acquired former Tehran InterContinential Hotel for $130 million
Iran Tourism Development Company sold the former 5-star 370 rooms InterContinential Hotel in Tehran (plus three of its other smaller hotels and complexes) to an unnamed Iranian investor through a tender process for $130 million.
The base price for Laleh Hotels (the new name of InterContinential Hotels after Iranian revolution) has been $95 million and had been advertised on Iranian English papers (PDF), their website, as well as other sources like MEED. It was open for foreign bids as well.
To see more investment firms from the Middle East check our Middle East investors directory)
Previous Post: Viceroy Fund and Middle East Entrepreneurs
Next Post: Dubai-based Private Equity Firm Rings NASDAQ Opening Bell