“The hotel remains under the management of Four Seasons in which Kingdom Holding holds a 47.5 percent stake,” Prince Alwaleed said in a statement on Wednesday. “We continue to be committed to creating and realizing value in our investments in Egypt.”
Sarmad Zok, Member of KHC’s Board of Directors and Investment Committee and CEO, Kingdom Hotel Investments, commented: “This divestment unlocks significant capital and we will continue to consider the sale of minority stakes to consolidate the portfolio.”