FINANCIAL NEWS

Saudi KHI sells 43.7% key hotel stake

02 Sep 2010

(MENAFN) A statement issued by Sarmad Zok, Chief Executive of Kingdom Hotel Investments (KHI), said that the company sold its 43.7 percent marginal stake in Four Seasons Hotel, Cairo to Arab Company for Hotel and Tourism Investments, a unit of Talat Moustafa Group Holding Company for $145 million, Trade Arabia reported.

KHI, headquartered in Dubai, is a leading international hotel and resort possession and development company focused on high growth promising markets such as the Middle East, Asia, and Africa.

The company has ownership interests in 26 possessions in 19 countries, including 22 operating hotels and resorts, and four underway hotels and resorts.

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