Toufic Aboukhater
Toufic Aboukhater | |
|---|---|
| Born | 1934 Tiberias |
| Died | 2020-08-06 Bluffton, South Carolina, United States |
| Occupation(s) | Entrepreneur, businessman |
| Years active | until 2020 |
| Known for | Ownership of luxury hotels including Monte Carlo Grand Hotel and InterContinental hotels portfolio |
Toufic Aboukhater (1934–2020) was a Palestinian entrepreneur and billionaire who resided in Monaco.
Early life
Aboukhater was born in Tiberias into a family involved in the hotel industry. In 1948, his family moved first to Syria and subsequently to Lebanon. Following the completion of his studies, he relocated to the United Arab Emirates where he worked for Royal Dutch Shell. Later, he held the position of special economic adviser to Sheikh Saqr al Qasimi, the ruler of Ras al Khaimah.
Career
In 1998, Aboukhater purchased the Loews Hotel Monte-Carlo from Loews Hotels Holding Corporation and renamed it the Monte Carlo Grand Hotel. This property was later sold in 2004 to Fairmont Hotels and Resorts for €215 million and was rebranded as the Fairmont Monte Carlo.
In April 2011, he acquired a portfolio of seven InterContinental hotels, including notable properties such as the InterContinental Carlton Cannes Hotel and InterContinental Amstel Amsterdam, for an estimated $643 million.
By 2014, his wealth was estimated to be approximately $5.6 billion.
Personal life
Toufic Aboukhater was married to Therese Aboukhater and had four sons named Kamal, Bassam, Ghassan, and Houssam.
He died on 6 August 2020 at his residence in Bluffton, South Carolina, United States.