RIYADH — Kingdom Holding Company (KHC) chaired by Prince Alwaleed Bin Talal, announced Sunday that it has successfully completed the sale of its ownership stake in Four Seasons Hotel Toronto. The transaction closed on Sept. 30, 2016 for a gross consideration of CAD 225 million.
The property was sold to family holding entities related to Shahid Khan, founder of Flex-N-Gate Group and CEO of the Jacksonville Jaguars and the London-based Fulham Football Club.
Four Seasons Hotel Toronto opened in its new building in Yorkville, downtown Toronto in 2012 and swiftly became the leading luxury hotel in Canada under Kingdom’s stewardship.
Alwaleed said: “This transaction marks yet another success for KHC’s value realization strategy from our high-quality hospitality investments. We are particularly pleased to be passing ownership of this property to Mr. Shahid Khan who is known for his passion for the Four Seasons brand.” He added “Kingdom continues to be a stakeholder in this asset through our interest in the management company Four Seasons Hotels and Resorts which will continue to operate the hotel.”
Founded in 1980, KHC is a publicly traded company which was listed on Tadawul (the Saudi Stock Exchange) in 2007. Today, KHC is one of the world’s most successful and diversified business organizations with investments across 12 sectors. For over two decades, the company has been a leading player in the global hospitality industry, building shareholder value by acquiring, developing, actively asset managing and monetizing high-quality hospitality assets.
