Kingdom Hotels selling Minority Interest

Posted: July 10, 2010 Posted by: Bloomberg

The CEO of Kingdom Hotels Investments is considering selling minority stakes in hotels, in order to focus on high-earning properties.  In order to re-configure the company's portfolio of hotel assets, the company will begin to evaluate its portfolio of hotel assets as well as hospitality and real estate investments.  Sarmad ZOK, CEO, said, the company is planning on spending $800 million on hotels in the second half of 2010 and first half of 2011.

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