Qatar reportedly bidding for Amanresorts

Another potential suitor for Amanresorts International Pte Ltd is reportedly Qatar Holding LLC, a subsidiary of Qatari sovereign wealth fund Qatar Investment Authority.

The Wall Street Journal reported on Friday that people familiar with Amanresorts’ bidding situation said that Qatar Holding is among the five companies bidding amounts between US$400 million and US$450 million for the ultra-luxury boutique hotel group. Other companies bidding include HNA Group Co., Haikou, China, and LVMH Moet Hennessy Louis Vuitton SA.

New Delhi-based Indian real estate developer DLF Ltd. owns Amanresorts. DLF is seeking to raise as much as 100 billion rupees (US$2.2 billion) through asset sales to repay debt, according to its latest annual report. It may sell part of its stake in the Amanresorts to a “strategic partner,” Saurabh Chawla, Amanresorts executive director said in late July. The company plans to keep the Amanresort in New Delhi, two people with knowledge of the matter said.

Qatari companies have made a number of high-profile hotel property purchases in recent months, including Al Faisal Holding’s acquisition of W London Leicester Square.