Saudi Arabia’s Kingdom Holding Company (KHC) chaired by HRH Prince Alwaleed Bin Talal has completed the sale of its ownership stake in Four Seasons Hotel Toronto.

The transaction closed on September 30 for a gross consideration of SR645 million ($172 million).

The property was sold to family holding entities related to Shahid Khan, founder of Flex-N-Gate Group and CEO of the Jacksonville Jaguars and the London-based Fulham Football Club.

Four Seasons Hotel Toronto opened in its new building in Yorkville, downtown Toronto, in 2012 and swiftly became the leading luxury hotel in Canada under Kingdom’s stewardship.

Prince Alwaleed said: “This transaction marks yet another success for KHC’s value realization strategy from our high-quality hospitality investments. We are particularly pleased to be passing ownership of this property to Shahid Khan who is known for his passion for the Four Seasons brand.”

“Kingdom continues to be a stakeholder in this asset through our interest in the management company Four Seasons Hotels and Resorts which will continue to operate the hotel,” he added.- TradeArabia News Service