Kingdom Holding Company (KHC), the investment firm of Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, said it has successfully taken over Kingdom Hotel Investments (KHI) after 94 per cent shareholders accepted its $5 per share offer.
Kingdom Hotel Investments said on Wednesday it did not have any acquisition plans for this year but will reassess market conditions in 2010, after its first half net profit fell 61 per cent.
'Within the next six months we don't exp
General manager of Makkah Hilton and Towers in Saudi Arabia Shuja Zaidi has won the General Manager of the Year award at the Kingdom Hotel Expansion and World Investment Summit held recently in Riyadh.
“Shuja has managed our largest and mo
Kingdom Hotel Investments has completed the sale of its 39.3 per cent interest in the Four Seasons Resort Sharm El Sheikh for cash proceeds of $70 million.
The sale is in line with KHI’s stated strategy on portfolio rationalisation and va
Kingdom Hotel Investments, controlled by Saudi Prince Alwaleed bin Talal, said first-half profit fell 39 percent as a one-off gain last year offset a revenue jump from expansion in Asia.
Net profit in the six months to June 30 fell to $17