Luxury department store line Harrods has announced its plans to open a series of hotels under the Harrods banner.
Initially, Harrods plans to open hotels in New York, London and Paris and most recently penned a deal to open one in Kuala Lumpur.
The Qatar Holding company bought the chain from Mohamed al Fayed back in 2010 for a reported $2.2 billion.
The move is an effort to diversify Qatar Holding’s portfolio, which already includes oil and gas and real estate interests. The company owns some of London’s most exclusive real estate at 1 Hyde Park, home to the Qatar royal family when they stay in London. Their Lamborghinis have become a roadside fixture there.
Qatar Holding also owns Britain’s Shard building and also holds property in the Canary Wharf financial district.
Pictured: Harrods London