By Courtney Trenwith
Luxury hotel chain announces Allen Smith as new CEO and president
The luxury hotel chain co-owned by Saudi Arabia’s Prince Alwaleed, Four Seasons Hotels and Resorts, has appointed a new company head.
Allen Smith, current CEO of Prudential Real Estate Investors, will become president and CEO of Four Seasons, from September 23.
Commenting on the announcement, Prince Alwaleed Bin Talal, chairman of Kingdom Holding Company, said the appointment of Smith had followed an extensive global search by Kingdom Holding and Four Season’s other long-term shareholders, Cascade and Triples.
“We have enjoyed a strong relationship over twenty years as the company has evolved and grown, and we look forward to continuing to work closely with our friends at Cascade and Triples to support Allen as CEO,” Prince Alwaleed said.
The luxury hotel chain has 91 properties in 38 countries and more than 60 projects under development.
Smith, 56, will take over the helm after 26 years, including five as CEO, at Prudential Real Estate Investors (PREI), one of the world’s largest real estate investment managers.
Under his leadership, PREI expanded its global presence to 23 offices worldwide and $53bn in real estate assets under management, including many hotels.
“Allen is a proven global growth leader and investor who fits well with our strong company culture and understands the value of preserving the quality of the existing brand. We are excited to work closely with our great partners and Allen to execute the established strategic plan for the company,” Cascade Investment chief investment officer Michael Larson said.For all the latest travel news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.