Kingdom Holding sells stake in San Francisco Fairmont

Kingdom Holding sells stake in San Francisco Fairmont

The Riyadh-based investment company, Kingdom Holding, has completed the sale of its major stake in the Fairmont San Francisco Hotel for approximately $200 million.

Kingdom Holding, which is chaired by Prince Alwaleed Bin Talal, will keep a 28% stake in the 591-room property which will continue to be managed by Fairmont, according to reports.

Kingdom Holding owns a stake of 35% in Canadian based Fairmont Hotels and Resorts.