The Four Seasons Toronto features 259 guest rooms, including 42 suites
A general view of Four Seasons Hotel, Toronto. Billionaire Saudi Prince Walid bin Talal's Kingdom Holding investment group has said it has purchased the luxury hotel for $200 million. © Sonia Recchia - Getty Images/AFP/File
The Four Seasons Toronto features 259 guest rooms, including 42 suites
AFP
Last updated: November 17, 2012

Saudi prince buys luxury Canada hotel

Billionaire Saudi Prince Walid bin Talal's Kingdom Holding investment group said on Saturday it has purchased the luxury hotel Four Seasons Toronto, Canada for $200 million.

"The transaction was funded by a $130 million mortgage loan while $70 million came from (the company's) own resources," Hazem al-Dosari, a Kingdom Holding Company spokesman, told AFP.

The Four Seasons Toronto features 259 guest rooms, including 42 suites.

"This transaction is in line with our investment strategy to develop hotels in selected key cities," Prince Walid said in a company statement announcing the deal.

The prince, in his late 50s, has holdings in Citibank and Rupert Murdoch's News Corporation. Forbes magazine listed him last year as the 26th richest person in the world with assets of $19.6 billion.

Kingdom Holding, of which he owns 95 percent, has stakes in Four Seasons and Fairmont Raffles Hotels International.

In December last year, Prince Walid and his KHC announced a combined investment of $300 million in the social networking site Twitter.

blog comments powered by Disqus
Stay Connected
twitter icon Twitter 13,558 linkedin icon LinkedIn 463
facebook icon Facebook 87,173 google+ icon Google+ 272