Lebanese luxury hotel owner may buy the Budapest Intercontinental

The real estate fund of Morgan Stanley decided to sell 7 of its hotel units, because of the bad financial situation of the bank.

The real estate fund of Morgan Stanley (MSREF) sold seven European hotels in a value of 450 million euros, including the Hotel Intercontinental in Budapest. According to the unconfirmed information of the PropertyWeek.com; the buyer is Toufic Aboukhater, Lebanese businessman, who previously also owned several luxury hotels in London – reports Világgazdaság Online, after PropertyWeek.com.