Middle East business information

Qatar-based Al Faisal Holding is shifting its focus to the hospitality industry and plans to buy hotels in Europe, North America, and big Arab cities, Reuters has reported. The company is in talks with a number of parties and would 'definitely acquire hotels in a year', Sheikh Faisal bin Qassim al-Thani told the news service. 'The plan for next five years is to have between 5-10 hotels in the medium-term,' he said.