Katara Hospitality has bought a Rome hotel from Starwood.

The Qatar investor said it acquired the Westin Excelsior in the Italian capital.

Starwood has agreed to sell the asset for €222m ($251.1m).

The hotel, which will be renovated over the next five years, will continue to be operated by Starwood Hotels & Resorts Worldwide, under a new long-term management contract.

The deal is Katara’s third in Italy.

Sheikh Nawaf Bin Jassim Bin Jabor Al-Thani, chairman of Katara Hospitality, said: “The Westin Excelsior Rome is the epitome of what Katara Hospitality looks for in a hotel.

“Its grand and statuesque appearance is the ultimate in luxurious hospitality.

“The hotel is a welcome addition to our growing global portfolio of iconic properties.”

Adam Aron, interim chief executive at Starwood, said the company had now passed its target of completing $800m in asset sales by the end of this year.

The acquisition brings Katara Hospitality’s portfolio of properties in operation or under development to 35.