Billionaire Saudi Prince Waleed bin Talal’s Kingdom Holding investment group said Saturday it has purchased the luxury hotel Four Seasons Toronto, Canada for $200 million. “The transaction was funded by a $130 million mortgage loan while $70 million came from (the company’s) own resources,” a Kingdom Holding Company (KHC) spokesman, told AFP.
The Four Seasons Toronto is a brand new five star property which opened last month, featuring 259 guest rooms, including 42 suites. The prince owns 47,5% of Four Seasons Hotels & Resorts (headquartered in Toronto), with most of its international properties under management agreement with third party owners. Al Walid also owns the Four Seasons George V Hotel in Paris.
Forbes magazine listed him last year as the 26th richest person in the world with assets of $19.6 billion. In December last year, Prince Waleed and his KHC announced a combined investment of $300 million in the social networking site Twitter.