Kingdom Hotel Investments (KHI), a wholly owned subsidiary of the Saudi Arabian conglomerate Kingdom Holding Company (KHC), chaired by HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, has signed an agreement with Hawaii-based Outrigger Hotels and Resorts, concerning the sale of KHI’s 100% interest in the Mövenpick Resort and Spa Mauritius. The transaction closed on May 29th 2013 for a gross consideration of $40M.
Prince Alwaleed commented, “This sale marks yet another successful transaction for KHI as we continue to realize value for our investors.”
Mr. Sarmad Zok, Chairman and CEO of KHI and Member of KHC’s Board of Directors commented, “We are delighted to be partnering with Outrigger Hotels and Resorts on this successful sale. This seamless transaction is a testimony to both parties’ commitment and professionalism, as well as further demonstration of the quality of KHI’s emerging market investments.”
KHI continues to be invested in Mauritius through its ownership stake in the Four Seasons Resort Mauritius at Anahita.
Headquartered in Dubai (UAE), KHI is the leading international hotel and resort investment company focused on high growth emerging markets such as the Middle East, Asia, and Africa. The company has ownership interests in 17 properties in 12 countries.