RIYADH – Kingdom Holding Company (KHC), chaired by Prince Alwaleed Bin Talal, announced Saturday the completion of the purchase of Four Seasons Toronto, Canada for $200 million. Alwaleed said: “This transaction is in line with our investment strategy to develop hotels in selected key cities." Recently inaugurated, The Four Seasons Hotel Toronto offers 259 spacious luxury hotel guest rooms, including 42 suites, in addition to a new 2,787-square-metre (30,000-square-foot) state-of-the-art spa, in Toronto's luxurious Yorkville neighborhood. KHC is considered one of the largest foreign investor in Canada through its investments in Four Seasons and also Fairmont Raffles Hotels International (FRHI). KHC holds a 47.5 percent stake in Four Seasons, while Cascade also holds a 47.5 percent stake, and 5 percent of the Four Seasons is owned by Isadore Sharp. The Four Seasons $ 3.8 billion acquisition deal by Alwaleed and Bill Gates with Isadore Sharp was made in 2007. In 2010, KHC announced an $847 million transaction with Qatari Diar involving FRHI. Under the agreements, Voyager Partners Limited (Voyager) has acquired for a combination of cash and other consideration a 40 percent shareholding in FRHI. In addition, QD Hotel & Property Investment Limited (QDHP) has undertaken to provide FRHI with a number of future management contracts for hotels that will be branded either Fairmont, Raffles or Swissotel. In 2006, Kingdom and Colony completed the acquisition of Fairmont Hotels & Resorts which was combined with the Raffles Hotels Group. In addition, Prince Alwaleed's investment in the banking sector in Canada via Kingdom Holding is through Citigroup. — SG
