In May, Sahara agreed to sell the Plaza to Shahal Khan, founder of Dubai-based family office White City Ventures.
IHG is already a global leader in the luxury segment with the world’s largest luxury brand.
The purchase marks the latest example of Accor’s recent acquisition spree, with the French group agreeing to buy Chile’s Atton Hoteles last month.
H Hotel Group is a world-leading urban hotel operator, listed on the Madrid Stock Exchange.
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