KHC sells interest in Four Seasons Resort Langkawi in $90m deal
Kingdom Holding Company (KHC) chaired by Prince Alwaleed bin Talal, recently announced that it has successfully sold its 90 percent interest in the Four Seasons Resort Langkawi, Malaysia to Leisure Ventures Pte Ltd. (LVPL), an affiliate of Hotel Properties Limited (HPL), a Singaporean listed company. The aggregate gross consideration paid by the purchaser for the 90 percent interest of KHC and the 10 percent interest of EHC International Limited as the minority shareholder, before the assumption of hotel level third party borrowing, is effectively $90 million.
Prince Alwaleed said: “This transaction marks yet another success for KHC’s value realization strategy from growth market investments.”
He added: “KHC continues to be a stakeholder in this property through our interest in the management company Four Seasons Hotels and Resorts which will continue to operate the resort.”
KHC is a value investment firm that is “internationally renowned for its interest in both high-performance global brands and strategic regional interests.” Based in Riyadh, KHC is led by its founder and chairman, Prince Alwaleed.
KHC’s investment approach stretches around the globe and includes leading market segments such as mobility solutions, digital technology and social media (Lyft, Careem, JD.com, Twitter), media and entertainment (NewsCorp, 21st Century Fox, Euro Disney S.C.A., Time Warner), and finance (Citigroup). KHC is also a global leader in luxury hotels and hospitality management with ownership or significant interests in marquee properties such as the George V in Paris, the Plaza Hotel in New York and London’s Savoy Hotel. KHC’s global hotel brands include the Four Seasons, Fairmont Raffles, Movenpick, Swissotel and Accor.
In Saudi Arabia, KHC’s real estate interests include the Kingdom Tower in Riyadh and the Jeddah Tower that once completed will be the tallest tower in the world with a height exceeding 1,000 meters. KHC also has investments in petrochemicals (Tasnee), education (Kingdom Schools), health care (Kingdom Hospital) and aviation (NAS Saudi Arabia).