Further information about Al Habtoor Group’s acquisition of Le Meridien are emerging. While the buyer would neither confirm nor deny the acquisition was completed for USD 80m, it’s now clear that the Starwood Hotels and Resorts-run hotel was once owned by the Central European Estate group (95%) and by Ari Yom-Tov, and Israeli individual. This is Al Habtoor Group’s first investment in Eastern Europe, but most likely not the last one. CEO of the company, Khalaf Ahmed Al Habtoor said they plan to stay in Hungary on the long term and other acquisitions might take place.
