>Kingdom Holding May Sell Minority Stakes in Hotels

Share Button

>July 5 (Bloomberg) — Kingdom Holding Co., the investment company controlled by Saudi billionaire Prince Alwaleed Bin Talal, and its hotels unit may sell minority stakes held in hotels as part of a plan to focus on higher-earning properties.

Kingdom has a “handful” of assets where it owns a 50 percent stake or less, and it “will assess the viability” of those holdings and may sell them to reinvest in the same industry, Sarmad Zok, chief executive officer of the lodging unit Kingdom Hotel Investments, said by phone from New York on June 30. He declined to identify the properties.

Read More:

About the Author