Constellation acquires remaining shares of Maybourne

Qatar-based Constellation Hotels Group has acquired developer Paddy McKillen’s 36% stake in the Maybourne Group, which owns and operates three London luxury hotels – Claridges, the Berkeley and the Connaugh. McKillen will continue to lead, direct and develop these assets for Constellation.

Constellation Hotels, owned by Qatar Holding, the sovereign wealth fund backed by the Qatari royal family, acquired the 64% share from the Barclay brothers last week for a price rumored to be more than £2 billion.

With the sale of the shares, McKillen and the Barclays are dropping all action over the ownership of the three hotels with attention now moving more directly toward the further development of the London icons.