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Friday, November 13 - 2009

Dubai-owned firm buys Stein hotels stake

  • United Arab Emirates: Wednesday, August 27 - 2008 at 10:48

Singapore-based KOP Capital, which is owned by Dubai Group, will buy a 50% stake in European hotel chain Stein Group for $250m, and spend about the same amount on new hotels in Asia, reported Reuters. The company will look at buying smaller luxury hotels of up to 85 rooms in big Asian cities such as Singapore, Beijing, Tokyo and Hong Kong. The firm owns 15 small luxury hotels in European cities including in London, Monte Carlo as well as in Tuscany.

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