Saudi Prince Waleed bin Talal buys newly opened FOUR SEASONS Toronto
Billionaire Saudi Prince Waleed bin Talal’s Kingdom Holding investment group said Saturday it has purchased the luxury hotel Four Seasons Toronto, Canada for $200 million. “The transaction was funded by a $130 million mortgage loan while $70 million came from (the company’s) own resources,” a Kingdom Holding Company (KHC) spokesman, told AFP.
The Four Seasons Toronto is a brand new five star property which opened last month, featuring 259 guest rooms, including 42 suites. The prince owns 47,5% of Four Seasons Hotels & Resorts (headquartered in Toronto), with most of its international properties under management agreement with third party owners. Al Walid also owns the Four Seasons George V Hotel in Paris.
Forbes magazine listed him last year as the 26th richest person in the world with assets of $19.6 billion. In December last year, Prince Waleed and his KHC announced a combined investment of $300 million in the social networking site Twitter.