2012-01-15 - AMEinfo.com | Saudi Arabia | Latest News - Saudi Arabia: Kingdom Holding Company, the investment firm chaired by Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, said it has sold its hotel stakes in Indonesia and Tanzania for $93m. The transaction for the sale of stake in Four Seasons Hotel Jakarta (Indonesia) and Mövenpick Dar es Salaam (Tanzania) was done through its unit Kingdom Hotel Investments (KHI) during the fourth quarter of 2011, said a company statement. KHI had held 82% ownership in the Four Seasons Hotel Jakarta and 96% in the Mövenpick Royal Palm Dar es Salaam, it stated. Commenting on the sale, Prince Alwaleed said, "These transactions mark yet another step for KHI towards the realization of the value of its investments." Sarmad Zok, chairman and CEO of KHI said, "We are delighted to realize value from our investments. This is a measure of performance and the ultimate reward to our shareholders.' 'Whereas M A transaction volumes have been thin globally, KHI's active monetization program is a testimony to the quality of its assets and team execution. We look forward to continuing an orderly value realization strategy into 2012,' he added. According to Alwaleed, KHI has ownership interests in 22 properties across 15 countries, including 20 operating hotels and resorts.  

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