Qatar Sheikh buys Taormina hotel for 52.5 million euros

Offer was below minimum sought, deal still needs approval

15 March, 17:47

    (ANSAmed) - Catania, March 15 - Qatar's Sheikh Hamad bin Jassim Al-Thani has purchased the historic San Domenico Palace Hotel in Taormina, Sicily, local media reported on Tuesday.

    The ex-Dominican monastery is set to be sold for about 52.5 million euros, according to media reports. That price includes management of the hotel.

    Several investors had presented offers for the hotel in a tender that closed on December 18, Catania daily "La Sicilia" reported. The 52.5 million offer was below a minimum sought of 53.377 million euros. Lawyers therefore still need to give final approval for the deal, which is expected to be decided by the end of March, the newspaper reported.

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