How Africa
Kingdom Hotel Investments, a subsidiary of Saudi billionaire Prince Alwaleed Bin Talal Alsaud’s Kingdom Holding, has sold off its 50% stake in Four Seasons Resort Mauritius at Anahita to Sun Resorts, its joint-venture partner.
The Four Seasons Resort Mauritius at Anahita opened in 2008 as part of a $200M mixed-use development project and is one of the most prestigious 5-star hotels in the Island nation. According to information available on Kingdom Holding’s website, the transaction was concluded last week for a net equity consideration of $40 million. Under the deal, the hotel will remain under the management of Four Seasons Hotels and Resorts. The 5-star property is currently closed for renovations until August.
Kingdom Hotel’s portfolio in Africa includes the Fairmont Hotels in Kenya and Seychelles, the Four Seasons in Marrakech, Morocco and the Movenpick in Accra-Ghana among others.
Saudi business magnate and investor Prince Al-Walid bin Talal bin Abdelaziz al-Saud arrives for a meeting with French President Francois Hollande in Riyadh, on May 5, 2015. Hollande is the guest of honor of the Gulf cooperation council summit in Riyadh, where security issues in the region are going to be discussed. AFP PHOTO / POOL / CHRISTOPHE ENA (Photo credit should read CHRISTOPHE ENA/AFP/Getty Images)
