VOL. XLI

No. 19

11-May-1998

KUWAIT

NBK Sells London Churchill Hotel for $242Mn

The National Bank of Kuwait (NBK) has sold the luxury Churchill Hotel in London for146mn ($242mn) to an unidentified group led by a Qatari businessman, Reutersreported from Kuwait on 6 May. The hotel, which was taken over by NBK after it foreclosedon the property in the late 1980s, is currently managed by Intercontinental.