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Apr 30, 2012
Kingdom Holding Announces the Sale of Four Seasons Toronto for C$142.5 million

Prince Alwaleed: “These transactions mark yet another step for KHC towards the realization of the value of its investments”

Kingdom Holding Company (KHC), chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, announced the sale of its Four Seasons Hotel Toronto Canada for of C$

142.5 million.

Prince Alwaleed commented: “These transactions mark yet another step for KHC towards the realization of the value of its investments.”

Mr. Sarmad Zok, Chairman and CEO of Kingdom Hotel Investments and Member of KHC’s Board of Directors commented: “The sale of the former Four Seasons Hotel Toronto marks another step in Kingdom’s long-term support of the brand in this key global gateway market, as we prepare for the opening later this summer of the brand’s newest flagship property, the Four Seasons Hotel and Residences Toronto.”

KHC is considered one of the largest foreign investor in Canada though its investments in Four Seasons and also Fairmont Raffles Hotels International (FRHI). KHC holds a 47.5% stake in Four Seasons, while Cascade also holds a 47.5% stake, and 5% of the Four Seasons is owned by Isadore Sharp. The Four Seasons US$ 3.8 billion acquisition deal by Prince Alwaleed and Bill Gates with Isadore Sharp was made in 2007. 

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In addition, Prince Alwaleed is invested in the banking sector in Canada through Kingdom Holding’s stake in Citigroup.