Saudi Arabia: Kingdom Holding began great hotels sale

Saudi Arabia: Kingdom Holding may sell minority shares in some hotels

In brief: In a large hotels Holding began serious financial problems. Kingdom Holding begins to sell off hotels.

Investment company Kingdom Holding, controlled by Saudi billionaire Prince Alwaleed Bin Talal, may sell minority stakes in several of its hotels.

Due to that Kingdom Holding intends to concentrate its activity on more highly profitable sites. It is reported that the company plans to spend on the development of existing hotels and building new $ 800 million in the second half of this year and in the first half of 2011.

Ukrainian Globalist
2010-07-05 22:12, Economics.

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