Qatar's Al Faisal Holding, owned by a Qatari royal family member, has bought the W London Hotel in Leicester Square for £200 million, according to reports. Contracts have exchanged between Northern Irish developer McAleer & Rusheto and Al Faisal group subsidiary, Al Rayan Tourism & Investment Company (ARTIC). The stylish 192-bed W London is situated on the corner of Leicester Square and Wardour Street, on the site of the former Swiss Centre. In addition to the Starwood-operated hotel, that has become popular with A-list celebrities, the ten-storey building houses 11 luxury two and three bedroom penthouse W Residencies and a 35,000 sq ft M&M's World store, a first for Europe. This latest acquisition brings ARTIC's current hotel portfolio to 11 properties in Qatar, London and Egypt, four of wich are still under development. Sheikh Faisal Bin Qassim Al Thani, Chairman of Al Faisal Holding Company, said the property's one-of-a-kind architectural quality, attractive setting and strength of the Starwood brand, made it an attractive acquisition.
