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UNITED
KINGDOM
Toronto Four Season Hotel
The Four Seasons Hotel in Toronto was sold in April 2005 to a unit of
KINGDOM HOTELS INTERNATIONAL, part of the massive holdings of Saudi Prince
Waleed bin Talal. The Prince is ranked by Forbes magazine as the fifth
wealthiest man in the world. The hotel, located in the Yorkville district,
was sold by private real estate fund Maritz, Wolff & Co. for an
undisclosed price. Prince Waleed has several hotel investments, including a
stake in Toronto-based FOUR SEASONS HOTEL INC., which has managed the
Toronto site since 1978.
Prince Al-Waleed
favours high-profile, brand name investments
According to a story in Reuters, the Saudi
Arabian billionaire Prince Al-Waleed plans to put his $1 billion (US) of
international hotel investments in a single unit and then offer a private
placement.
The prince is ranked eighth on the Forbes
list of richest people with a fortune estimated at $15 billion.
As Chair of Kingdom Holdings Co. Prince al-Waleed bin Tabal oversees
interests in:
Eurodisney theme park
Planet Hollywood
George V in Paris
Four Seasons Hotels
ovenpick
Plaza Hotel in New York
Fairmont Hotel Management
Prince al-Waleed bin Tabal's other international investments include
Citicorp and the Canary Wharf real estate development in London. He
also has a substantial portfolio in Saudi Arabia.
In the interview with Middle East Economic Digest, the Prince said
his strategy was based on high-profile investments. "They must
also have a brand name that works at least on a regional basis, if not
global, but going through major difficulties either due to cyclical factors,
weak management or tough competition" he said. "Our crietera
call for investments of $100 million to $500 million, although we
occasionally go down to $50 million."
The Prince increased his stake in New York's Plaza Hotel from 42% to 50%.
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