Arabian Business Power 500 2013
Thu 21 Mar 2013 10:28 AM
Toufic Aboukhater

Toufic Aboukhater

Industry: Industry

Designation: Entrepreneur

Country: Monaco (Palestine)

Palestinian Lebanese businessman Toufic Aboukhater who
resides in Monaco is a self made man, who has stakes in oil, transport and
manufacturing companies. The reclusive businessman started out working for
Royal Dutch Shell, before going on to develop strong relationships in the Gulf
and UAE, building one of the first cement factories in Ras Al Khaimah.

In early 2011, Aboukhater, who previously owned the Grand
hotel in Monte Carlo and the Dorchester in London, purchased, through his
company Mansion Services, seven hotels branded by InterContinental Hotels Group
Plc, including the Carlton hotel on the Croisette boulevard in the French
Riviera town of Cannes for about 450m euros.

The seven hotels had changed hands several times before the
purchase and had a valuation at one point of as much as 634m euros.

Aboukhater sold the Carlton at the end of 2011 for 450m
euros to a Qatari investor.