Kingdom Hotels (Toronto) Ltd, an affiliate of Kingdom Hotels International (KHI), has acquired 100 per cent of the Four Seasons Toronto Hotel.

KHI is an entity owned by a trust for the benefit of Saudi Prince Alwaleed bin Talal and his family. The acquisition financing was provided by Aareal Bank.

'We are delighted to add the Four Seasons Hotel Toronto to our significant global portfolio of hotel real estate investments,' said Prince Alwaleed. 'The hotel is well positioned to continue building on its prominence within Canada's leading city and its history of providing exceptional service to guests from around the world. We are particularly pleased to own the hotel located in the headquarters city of Four Seasons and look forward to continuing the long and rewarding partnership that has existed with Four Seasons since Kingdom's initial investment in the company in 1994.'

The hotel occupies a premier location in the city and is a landmark on the corner of Avenue Road and Yorkville Avenue in the heart of the elite fashion, dining and retail district of Yorkville.

Four Seasons Toronto Hotel has 380 beautifully appointed, classically elegant guestrooms (including 150 suites) four contemporary, award-winning dining outlets. The hotel is widely regarded as Toronto's leading social and business venue and feature 22,000 sq ft of function space, a full service business centre and health club with indoor/outdoor pool.

In addition to Prince Alwaleed's direct ownership interests in 25 hotels and resorts, he has significant hotel-related investments in three leading international hotel management companies, namely Four Seasons Hotel and Resorts, Fairmont Hotels and Resorts and Mövenpick Hotels And Resorts, covering more than 260 hotels throughout the US, the Middle East and Africa. Significant investments in other sectors include interests in Citigroup, News Corp, Time Warner, Motorola, Apple Computers, Ballast Nedam, Canary Wharf, Disneyland Paris, Saks Inc. and Kingdom Centre.

Time for a new four seasons anyways. <LOL> what about Sapphire?

So he aquired just this hotel or the whole company???? Also, isn't that like kinda ethically wrong for the prince to do business deals while in power? Seems to me that this saudi royalty is royally corrupt!! Not the first time something like this has happened. I can remember when the leader of the royal family, (forget his name and title) decided to spend the entire GNP of saudi arabia in Las Vegas. Wow, thats some power to have. (feel free to correct me if im wrong, im only stating what I remember and from what I read in the article)

Cheers!

So he aquired just this hotel or the whole company???? Also, isn't that like kinda ethically wrong for the prince to do business deals while in power? Seems to me that this saudi royalty is royally corrupt!! Not the first time something like this has happened. I can remember when the leader of the royal family, (forget his name and title) decided to spend the entire GNP of saudi arabia in Las Vegas. Wow, thats some power to have. (feel free to correct me if im wrong, im only stating what I remember and from what I read in the article)

Cheers!


He bought the hotel, as in the building. Isadore Sharp's Four Seasons is the company that operates it. Many high end hotels have both managing companies and owners. About your questions of ethics? Well the Saudi government is a monarchy, and they do business just like our government and politicians have their own businesses. The only difference is, because the Saudis are sitting on the world's largest oil reserve they do a hell of a lot more business than anyone else. And another thing of note, the Saudis have an extremely vast empire and have money in basically every company you know. Think of it as smart diversification when the oil runs out.

Well, everybody has always bitched how the headquarter city always had a crappy looking hotel tower....now they will obviously have to build a new flagship building.






KGB

Well, everybody has always bitched how the headquarter city always had a crappy looking hotel tower....now they will obviously have to build a new flagship building.






KGB


Actually they won't...apparently Kingdom Hotels and the Four Seasons have had a partnership for a while. They will still run the hotel.

Four Seasons is going to do 'some renovations' to their Toronto property. Not build a new one.

Perhaps with Ritz and Trump they will rethink this reno and go full circle and do something really spectacular. As it stands now, it just sucks.

You think Four Seasons will just sit back and get out-Trumped and out-Ritzed in their own town? I would hope not.

They do have the superior location though.

hmmm....Trizec is probably looking for a partner to do their hotel/condo mega tower on the BA site. They will probably wait until Trump, Saphire and Ritz all get settled, and come out and out-do them all with a taller...more spectacular tower than all of them....a 1200-1400 foot tower.






KGB

You think Four Seasons will just sit back and get out-Trumped and out-Ritzed in their own town? I would hope not.

They do have the superior location though.

hmmm....Trizec is probably looking for a partner to do their hotel/condo mega tower on the BA site. They will probably wait until Trump, Saphire and Ritz all get settled, and come out and out-do them all with a taller...more spectacular tower than all of them....a 1200-1400 foot tower.

KGB


Wow...how I wish this to be true ASAP though...

"They do have the superior location though"

perhaps that will change with all the high end boutique hotels and chains developing around the entertainment district - maybe the choice to eventually build the film festival centre was more genius than I thought

I'm sorry, but the fabulous people will always want to be in Yorkville over the entertainment district or the financial district....and the CBC block isn't even prime Entertainment District.






KGB