Saudi prince buys luxury Canada hotel
Saudi billionaire Saudi Prince Al Waleed Bin Talal's Kingdom Holding investment group said yesterday it has purchased the luxury hotel Four Seasons Toronto, Canada for $200 million (Dh735.6 million).
"The transaction was funded by a $130 million mortgage loan while $70 million came from (the company's) own resources," Hazem al-Dosari, a Kingdom Holding Company spokesman, told media. The Four Seasons Toronto features 259 guest rooms, including 42 suites. "This transaction is in line with our investment strategy to develop hotels in selected key cities," Prince Walid said in a company statement announcing the deal.