Prince Alwaleed sells Four Seasons Hotel Toronto, its third sale of a Four Seasons property this year
Kingdom Holding, the investment firm controlled by HRH Prince Alwaleed Bin Talal, has sold its Four Seasons hotel in Toronto for US$145 million. In a statement released by the Riyadh-based company today, Alwaleed said: “These transactions mark yet another step for KHC (Kingdom Holding Company) towards the realisation of the value of its investments.” The statement did not mention the party buying the property.
Later this summer, Kingdom Holding will open its new Four Seasons Hotel and Residences property in the same city in Canada. In January this year, the firm sold stakes in another two of its Four Seasons hotels as part of a deal worth US$93 million.
Kingdom Holding, which held an 82 percent stake in the Four Seasons Hotel, Jakarta and a 96 percent stake in the Mövenpick Dar es Salaam, said the deal was completed in the fourth quarter.
adapted from arabianbusiness.com