Kingdom Hotel Investments (KHI), a wholly owned subsidiary of Kingdom Holding Company (KHC), chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, sell the entire ownership of the Four Seasons Hotel Jakarta and Movenpick Dar es Salaam in Tanzania with a value of U.S. $ 93 million.
As reported Arab News, Prince Alwaleed completed two transactions in the fourth quarter of 2011. Prince Alwaleed commented, "These transactions mark yet another step for KHI towards the realization of the value of its investments."
Mr. Sarmad Zok, Chairman and CEO of KHI and Member of KHC's Board of Directors commented, "We are delighted to realize value from our investments. This is a measure of performance and the ultimate reward to our shareholders. Whereas M&A transaction volumes have been thin globally, KHI's active monetization program is a testimony to the quality of its assets and team execution. We look forward to continuing an orderly value realization strategy into 2012."
Alwaleed to buy Four Seasons Jakarta in July 2007. At that time the hotel is located on Jalan HR Rasuna Said, Setia Budi, Jakarta, named Regent. The investment value was U.S. $ 48 million. Nephew of the King of Saudi Arabia does have a lot of investment in Indonesia. In addition to the Four Seasons Jakarta, Alwaleed has also the Four Seasons Resort Bali at Sayan, Four Seasons Hotel in Jimbaran Bali, Raffles Hotel Bali in Jimbaran, as well as the Raffles Hotel in Jakarta. Oil baron also owns shares in Citigroup, which also operates in Indonesia.
Kingdom Hotel Investments has ownership interests in 22 properties in 15 countries, including 20 operating hotels and resorts.
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