By Massoud A. Derhally
Prince's Kingdom Holding retains 28 percent stake in 591-room property
Prince Alwaleed Bin Talal's Kingdom Holding Company, sold the Fairmont San Francisco Hotel for about US$200m to a group of companies led by an affiliate of Oaktree Capital Management and real estate investor Michael Rosenfeld and his Woodridge Capital Partners.
KHC said it retained a 28 percent stake in the 591-room hotel which will continue to be managed by the Canadian-based Fairmont Hotels & Resorts.
KHC owns a stake of 35 percent in Fairmont Hotels and Resorts. In 2006, KHC and Colony completed the acquisition of Fairmont Hotels and Resorts which was combined with the Raffles Hotels Group