DOHA, QATAR—Qatar Investment Authority is acquiring joint control of a portfolio of luxury European hotels including the Carlton InterContinental in Cannes and Amsterdam’s Amstel InterContinental. This according to a report from Bloomberg.

The Qatari sovereign wealth fund’s Katara Hospitality unit is also taking joint control of InterContinental hotels in Frankfurt, Madrid and Rome, according to a notice on the website of the European Commission’s competition authority. The hotels are managed by and will continue to be jointly controlled by the U.K.’s InterContinental Hotels Group Plc.

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