LONDON (Jun. 22)
The Dorchester, a famous London hotel popular with Israeli visitors, which housed President Ephraim Katzir and Mrs. Katzir during their visit here last week, is to be sold to a consortium of Arab businessmen, it was announced today. The buyers, mostly from Saudi Arabia and Persian Gulf oil states, are paying about $20 million. They will be represented on the board of a new holding company by Sheikh Najib Alamuddin, a Lebanese who is chairman of Middle East Airlines.
The Dorchester is frequented by wealthy Arabs who often rub shoulders with prominent Israeli guests. The selling company, which will be represented on the new board of directors, has given assurances that nothing will be done to make Jewish guests feel unwelcome.