Saudis calm Norfolk hotel after tycoon owner arrest
Kenya’s five-star hotels, including the Nairobi Norfolk, have been offered assurance by Saudi authorities of their business continuity after the arrest and freezing of their owner’s bank accounts in a corruption purge.
Saudi authorities had earlier said the government would seize any asset or property linked to the suspects in the crackdown including dollar billionaire Prince Al-waleed bin Talal, who owns a string of top global hotels including Norfolk.
The corruption crackdown has sent shock waves in the business community, with fears of disruption to their businesses both in Saudi Arabia and abroad. But the country’s Council of Economic and Development Affairs said in a Financial Times report instructed officials to ensure that activities of companies, “including those wholly or partly owned by individuals under investigation, were not disrupted while investigations into corruption were under way”.
Mr Al-waleed, one of the world’s richest men, is the owner of Nairobi Norfolk Hotel. He was among high-ranking Saudi officials arrested on Sunday accused of money laundering, bribery, extortion and channelling government contracts to companies linked to the suspects.
Mr Al-waleed owns a significant stake in the five-star Fairmont Raffles group.
Its stable of hotels in Kenya includes the Fairmont Mara Safari Club and Fairmont Mount Kenya Safari Club.
The three iconic hotels, collectively boast of 290 guest rooms and suites, 51 luxury tents and over 10 food and beverage outlets.
PURGE Norfolk owner billionaire Prince Al-waleed bin Talal.