Kingdom Holding sells 50% stake in Mauritius resort to JV partner

Kingdom Hotel Investments (KHI) said that it has sold Kingdom 5-KR-18, Ltd, which owns a 50 percent interest in the Four Seasons Resort Mauritius, to Kingdom’s partner in the property Sun Resorts for a net equity consideration of $40 million, according to a statement obtained by Argaam.

“This transaction marks yet another success for KHC’s value realization strategy from growth market investments,” Prince Alwaleed was quoted as saying in the statement. “The hotel will remain under the management of Four Seasons Hotels and Resorts.”

The Four Seasons Resort Mauritius at Anahita is part of a $200 million mixed-used development that opened in 2008. Kingdom Holding Co, which owns a 47.5 percent stake in the Four Seasons management company, will remain a stakeholder in the asset.

Dubai-based KHI, which is wholly owned by Prince Alwaleed’s investment vehicle Kingdom Holding, is an international hotel and resort developer.

Kingdom Holding has stakes in several luxury hotel management firms, including FRHI Hotels & Resorts, Movenpick Hotels & Resorts and other 21 owned hotels worldwide. It also invests in real estate.