Kingdom Hotel Investments completes sale of Swissôtel Kunshan for $60.6m | Kingdom Hotel Investments completes sale of Swissôtel Kunshan for $60.6m -
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Kingdom Hotel Investments completes sale of Swissôtel Kunshan for $60.6m

United Arab Emirates: Sunday, April 10 - 2011 @ 16:21

After transaction costs and the repayment of debt, the pre tax cash proceeds totaled $42.3m.

Prince Alwaleed commented, “We are delighted to realize value of this investment amid a buoyant transactions environment in growth markets.”

Mr. Sarmad Zok, Chairman & CEO of KHI and Member of KHC’s Board of Directors, commented, “I am very pleased to conclude this transaction and complete a further step in our ongoing strategy of value realization and capital redeployment.”

KHI, 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.

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Sunday, April 10- 2011 @ 16:21 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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