Habtoor Group

Dubai conglomerate Al Habtoor Group is in the final stages of acquiring a five-star hotel in Budapest for $80 million - Arabian Business is reporting.

As DubaiBeat.com reported earlier, the groups was looking to buy hotels in Europe. It is also in talks with officials in France to buy a second hotel in Paris, its chairman says.

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More details follows from Arabian Business

UAE conglomerate Al Habtoor Group is eyeing hotel acquisitions in London and Paris but will steer clear of investments in the Arab world outside the Gulf region - the Reuters is reporting.

"We invested in the UK and we are happy about it. If there are opportunities in London and Paris, I won't hesitate to go there", says Khalaf Al Habtoor the chairman of the group.

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More details follows from Reuters

Dubai-based Habtoor Group, which was part of the Middle Eastern investors group that invested in Barclays back in 2008, has asked Rothschild to identify five-star hotel targets in Europe, its chairman said on Monday to the Reuters.

Habtoor added the group was also looking at companies who want to sell their assets due to a lack of financial liquidity. Habtoor said in August the group had about $1.3 billion to invest in Europe.

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