Qatari investment firm ARTIC pays $513m for Times Square Hotel
A Qatari investment firm has received a $275m loan for its $513m purchase of The Manhattan at Times Square Hotel, city property records show. The buyer is Al Rayyan Tourism and Investment (ARTIC), the international hospitality subsidiary of Al Faisal Holding Company, which also owns the Radisson Blu Chicago and the St. Regis Bal Harbour Resort in Miami Beach, Florida.
