Amstel Hotel sold for €800k per room

A price of 800,000 euro per room was paid for the Amstel Hotel in Amterdam which was sold to hotel group Katara Hospitality from Qatar, according to property-website PropertyNL. The five star hotel counts 55 rooms and 24 suites and is located ideally between the financial, cultural and shopping district as it overlooks the Amstel River. Katara Hospitality also bought another five luxury-level hotels in Europe from Amstel Hotel owner InterContinental, including properties in Cannes, Madrid and Frankfurt. They also purchased De La Ville Rome, according the Financiële Dagblad. InterContinental bought the Amstel in 2006 from investment bank Morgan Stanley.