Kingdom buys Jakarta Four Seasons

Kingdom
Hotel Investments has announced the acquisition of the Four Seasons Hotel Jakarta for US$48
million.The acquisition is KHI’s first in Indonesia and reflects the
Group’s investment and diversification strategy in high growth emerging
markets.

The hotel opened in 1995 as the Regent Jakarta and following a
substantial refurbishment, was reopened in July 2004 as the re-branded
Four Seasons Hotel Jakarta. It is located in the heart of Jakarta’s
Golden Business Triangle, the commercial, political and cultural hub of
Indonesia. This 365-room hotel is one of the most established hotels in
the region. It has good access to the international airport and city
attractions such as the National Monument.

This transaction further expands KHI’s portfolio in Asia to nine
properties in seven countries, which now includes the Indonesian hotel
market; a market showing real signs of recovery and development, fuelled
by economic growth and increases in travel and tourism to the region.

KHI will own an 81.9% stake in the hotel.

HRH Prince Alwaleed Bin Talal, Chairman of KHI, said: “We continue to
see considerable potential and opportunity in the Asian region and are
delighted to be announcing today our first investment in the rapidly
growing Indonesian hotel market.”

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Sarmad Zok, Chief Executive Officer of KHI, said: “The timing of this
acquisition reflects the Company’s ability to acquire existing assets
with a growth perspective, which in this case will be driven by the
market and KHI’s active asset management. The Four Seasons Hotel Jakarta
is one of the most established hotels in Jakarta with a strong banquet
and conference business in a market of high corporate demand. It is in a
very central location, close to demand generators and will launch KHI
into another dynamic, emerging market territory.”


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