Kingdom Holding Sells US Hotel

22nd September 2010 (Last Updated September 22nd, 2010 18:30)

Kingdom Holding Company (KHC) has sold the Fairmont Copley Plaza in Boston, US, for $100m. The hotel will remain under the management of Fairmont Raffles, which is part of KHC's hotel portfolio. KHC also announced an $847m transaction with Qatari Diar involving Fairmont Raf

Kingdom Holding Company (KHC) has sold the Fairmont Copley Plaza in Boston, US, for $100m.

The hotel will remain under the management of Fairmont Raffles, which is part of KHC’s hotel portfolio.

KHC also announced an $847m transaction with Qatari Diar involving Fairmont Raffles Holdings International (FRHI).

Under the deal Voyager acquired a 40% stake in FRHI, according to TradeArabia News.

QD Hotel & Property Investment will provide FRHI with management contracts for hotels that will be branded either Fairmont, Raffles or Swissotel.