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Saudi Kingdom Holding launches USD164m hotel in Morocco

18 Dec 2011

(MENAFN) Saudi Kingdom Holding stated that it inaugurated a USD164 million hotel in Morocco, reported Arabian Business.

The company, owned by Prince Alwaleed Bin Talal, added that the 40 villas adjacent to the Four Seasons Hotel were sold earlier in 2011, adding that the firm’s investments in the North African country also included other hotels under construction.

It also said that hotel would be under the management of Four Seasons, in which Kingdom Holding holds a 47.5 percent stake, and is co-owned by Bill Gates’ Cascade, in which the Kingdom also has a 47.5 percent stake.

It is worth noting that other hotels owned by Kingdom Holding in Morocco will be managed by firms in which the Saudi company holds an interest, including Fairmont and Movenpick.

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