A 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.
More details follows