Kingdom Holding Company (KHC), a diversified conglomerate chaired by HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud, today announced the appointment of Mr. Sarmad Zok, CEO of Kingdom Hotel Investments (KHI), to its Board of Directors and Investment Committee. Mr. Zok will assume responsibility for driving the strategic development of KHC’s global hotel portfolio with immediate effect.
Kingdom Hotel Investments, headquartered in Dubai (UAE), is the leading international hotel and resort acquisition and development company focused on high growth emerging markets such as the Middle East, Asia, and Africa. The Company has ownership interests in 27 properties in 19 countries, including 23 operating hotels and resorts, and four hotels and resorts currently under construction. KHC has recently announced the acquisition of the KHI public shares which were formerly listed on NASDAQ Dubai and the London Stock Exchange. KHI is now a private company wholly owned by KHC.
In addition to KHI’s platform, KHC’s hospitality portfolio consists of ownership interests in three leading hotel management companies: the Four Seasons Hotels & Resorts, the Fairmont-Raffles Hotels & Resorts and the Mövenpick Hotels & Resorts. Mr. Zok is currently a director in these three companies. KHC also owns the Four Seasons Hotel George V, Paris and has interests in The Plaza Hotel, New York; The Savoy London; The Fairmont San Francisco; and the Four Seasons Hotel Toronto.
Prince Alwaleed commented: “Sarmad’s expertise will be a tremendous asset to KHC, one of the most active global hotel investors. This appointment reflects the Company’s continuing commitment to create value for our shareholders.”
“I am honored to be given the opportunity to drive the strategy and management of KHC,” said Sarmad Zok. “There are exciting opportunities to create greater synergies across KHC’s global hospitality portfolio and I look forward to driving this growth.”
Mr. Zok has been the Chief Executive Officer of KHI since 2001 having founded KHI in the emerging markets and established its portfolio and management team. He led the company’s US$1.6bn Initial Public Offering in 2006 and is a member of KHI’s Executive Committee. Previously, Mr. Zok headed Forte plc`s development effort in emerging markets and worked at HVS International, a leading hotel consulting and valuation firm, covering European markets. Mr. Zok holds a Bachelor of Science in Hotel Management from the University of Surrey, and a Masters of Arts in Property Valuation and Law from City University Business School, London.