New JV company established in Monaco.

Monaco and Qatar have formed a joint venture company called Monaco QD International Hotels and Resorts Management. With initial capital of 5 million euros, the enterprise is based in Monaco, although investments will be outside the Principality, and the major shareholder is Qatar. It aims to acquire, invest in and manage hotels and resorts in Europe, North America, Asia and the Middle East.

Qatar has long had an interest in Monaco and the luxury hotel industry. In 2008, Qatari Diar had attempted to increase its shareholding in Monte Carlo SBM, but stepped down when the Monaco company's board limited any increase to 10%.

Monaco and Qatar create a JV to invest in hotels

Hotels : Monaco and Qatar join forces in an investment fund