Kingdom Hotel Investments (KHI), a unit of diversified Saudi Arabian conglomerate Kingdom Holding Company (KHC), has sold a 50 per cent stake in the Four Seasons Resort Mauritius at Anahita to hospitality group Sun Resorts.

The Four Seasons Resort Mauritius at Anahita, part of a $200 million mixed-use development project, opened in 2008 and swiftly became the leading property in the Mauritius luxury hotel competitor set.

The transaction closed on May 30 for a net equity consideration of $40 million.

“This transaction marks yet another success for KHC’s value realisation strategy from growth market investments. The hotel will remain under the management of Four Seasons Hotels and Resorts,” KHC chairman Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud said.

KHC continues to be a stakeholder in the asset through its interest in the management company Four Seasons Hotels & Resorts, KHI’s CEO and chairman Sarmad Zok highlighted.

KHC owns a 47.5 per cent stake in the Four Seasons which is co-owned by Bill Gates’ Cascade with a 47.5 per cent stake, and the remaining 5 per cent is owned by Canadian hotelier Isadore Sharp, who is also the founder and chairman of Four Seasons Hotels and Resorts. – TradeArabia News Service