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Prince Alwaleed Receives Chairman of Katara Hospitality of Qatar

June 17, 2015

 

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), received at His office in Riyadh Sheikh Nawaf Bin Jassim Bin Jabor Al-Thani, Chairman of the Board of Directors of Katara Hospitality. The meeting was also attended by Mr. Sarmad Zok, Member of KHC’s Board of Directors and Chief Executive Officer of Kingdom Hotel Investments.

 

The meeting began as Prince Alwaleed welcomed the Katara delegation. The discussion then focused on the joint investment in FRHI Hotels & Resorts in which Katara and KHC hold 65% and 35% respectively, and explored growth aspirations for the company.

 

The attendees also deliberated the tremendous change that the global hospitality industry is undergoing, and praised their joint investment in FRHI which constitutes a unique hotel management platform with access to three world-class brands across three different chain scales: Fairmont Hotels & Resorts in the upper upscale segment, Raffles Hotels & Resort in the luxury segment, and Swissôtel Hotels & Resorts in the upscale segment.

 

Both parties reaffirmed their strong partnership and their alignment on value realization for FRHI which currently manages 111 hotels in 27 countries under its three flags.

 

The successful partnership between KHC and Katara extends beyond FRHI to the iconic Savoy Hotel in London (a Fairmont Hotel) where KHC holds a 50% stake and Katara and FRHI own the other 50%.

 

For over two decades, Kingdom has been a leading player in the global hospitality industry. In addition to its ownership in FRHI, Kingdom has developed or held investments in 24 hotels managed by FRHI brands, nine of which it continues to own today including Fairmont San Francisco, The Plaza New York (a Fairmont Managed Hotel), The Savoy London (a Fairmont Managed Hotel), Fairmont Mara Safari Club, Fairmont Mount Kenya Safari Club, Fairmont The Norfolk in Nairobi, Raffles Hotel Le Royal in Phnom Penh, Raffles Grand Hotel D’Angkor in Siem Reap, and Raffles Praslin in Seychelles.

 

In addition to FRHI, KHC holds major interests in industry-leading luxury hotel management companies Four Seasons Hotels and Resorts and Mövenpick Hotels & Resorts. KHC’s hotel real estate portfolio comprises 21 owned hotels in 14 countries including the Four Seasons Hotel George V in Paris, The Plaza New York, The Savoy London, the Four Seasons Hotel Toronto, Fairmont San Francisco and other leading hotels across the Middle East, Asia, and Africa.