Alwaleed sells Four Seasons Toronto for US$145m

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Kingdom Holding, the investment firm controlled by HRH Prince Alwaleed Bin Talal, has sold its Four Seasons hotel in Toronto for CA$142.5m (US$145m).

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$93m.

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.

In April, the company reported its first quarter net profit rose by 11.3 percent year-on-year to SAR100.8m (US$26.88m).

Prince Alwaleed's fortune has increased by more than 18 percent, or US$3.2bn, this year, according to the Bloomberg Billionaires Index, a daily ranking Prince Alwaleed sells Four Seasons Toronto for US$145m of the wealthiest people.

The Saudi prince’s wealth rose this year as shares of Kingdom Holding rose 36 percent, Bloomberg said.

The company owns stakes in a number of major international companies, including Apple and Citigroup, and is also currently building the world’s tallest tower in Jeddah, Saudi Arabia.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Over half of suppliers asked for bribes by hotel managers - survey

Over half of suppliers asked for bribes by hotel managers - survey

Nearly three quarters of suppliers said they know of other firms...

3
The new RNB stars

The new RNB stars

How Jason Myers, Gert Kopera and Christian Gradnitzer plan to...

100-year anniversary of commercial passenger aviation

100-year anniversary of commercial passenger aviation

On New Year’s Day 1914, the first paying aeroplane passenger...

Most Discussed
  • 54
    Three UAE women attacked with hammer at London hotel

    I really feel that Arabian Business.Com should now close this comments page. This should be all about sympathy for the families not what it is/has turned... more

    Wednesday, 16 April 2014 1:06 PM - Adrienne
  • 51
    Why Dubai isn't a plastic city

    What is definitely not a plastic city. The Arabs have a culture dating back to several centuries. 50 years back Dubai was just a fishing village. Today... more

    Tuesday, 8 April 2014 3:49 PM - P. MADHUSUDAN
  • 48
    DMCC boss Ahmed Bin Sulayem entertains Robert Mugabe in Dubai

    @fga ''However today, simply because he decided to dispossess a few white farmers of their land and redistribute to the poorer indigenous blacks'' more

    Sunday, 13 April 2014 3:02 PM - Matt Williams