image description
image description
Tell A Friend

FinancialNews


  • 19-09-10

    Kingdom Holding sells Boston hotel for $100m

    (MENAFN) Kingdom Holding Company (KHC), the investment firm of Saudi Prince Alwaleed bin Talal bin Abdulaziz Alsaud, has announced the sale of Fairmont Copley Plaza, a major US-based hotel, for $100 million, Reuters reported. The Fairmont Copley Plaza hotel based in Boston, US has been a symbol of its rich history and elegance since its launch in 1912, said a statement from KHC. The hotel remains under the management of Fairmont Raffles, an integral component of KHC�s diverse hotel portfolio, it added. Commenting on the sale, Prince Alwaleed said it was consistent with the company�s portfolio rationalization and value realization strategy. Recently, KHC had announced an $847 million transaction with Qatari Diar involving Fairmont Raffles Holdings International. Under the deal, Voyager has acquired for a combination of cash and other consideration a 40 percent shareholding in FRHI, said Prince Alwaleed. In 2006, Kingdom and Colony completed the acquisition of Fairmont Hotels & Resorts which was combined with the Raffles Hotels Group, he added.

Follow us

RSS
Terms & Conditions  |  Privacy & Security  |  Contact Us  | Sitemap
© 2024 BBK  |  All Rights Reserved