Qatar in talks to raise stake in Fairmont Raffles hotels | ft.com

Qatar is in talks to buy US-based Colony Capital’s stake in Fairmont Raffles Hotels International, the privately held hotel group, as part of the Gulf state’s strategy to diversify from hydrocarbons and into the luxury hospitality industry. “I don’t think it’s any secret that we’ll be increasing that stake,” Christopher Knable, chief operating officer of Katara Hospitality, the rebranded hotels arm of Qatar’s sovereign wealth fund, said in Dubai.