Egyptian family swoops on London hotel
Britannia Hospitality buys The Stafford Hotel
Britannia Hospitality, owned by Egypt's El Sharkawy family, said on Thursday it has bought London's The Stafford Hotel for 77.5 million sterling (US $126 million) from pubs and hotel firm Daniel Thwaites.
The purchase of the 105-room hotel, in London's Mayfair district, is part of the El Sharkawy family's plans to expand into global capitals, according to a statement by the group.
The Egyptian family also owns the construction and hospitality group RAMW.