Kingdom Holding has sold the 219-room Four Seasons Hotel in London’s Mayfair for US$146.7m.
Controlled by Saudi billionaire Prince Alwaleed bin Talal, Kingdom Holding holds a 44.4 percent stake in the Four Seasons Hotels group after shareholders agreed in April to a US$3.37bn offer from a group of investors including Prince Alwaleed and Microsoft’s founder Bill Gates.
The sale is part of Kingdom’s plans to “monetise and extract value out of the company’s hotel portfolio,” it said in a statement.
The buyer was not named.
By staff writer