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Saudi- Alwaleed receives Katara delegation
(MENAFN- Arab News) RIYADH: Prince Alwaleed Bin Talal chairman of Kingdom Holding Company (KHC) received at his office in Riyadh Sheikh Nawaf bin Jassim bin Jabor Al-Thani chairman of the board of directors of Katara Hospitality Qatar. The meeting was also attended by Sarmad Zok member of KHC's board of directors and CEO of Kingdom Hotel Investments.
The meeting between Prince Alwaleed and the Katara delegation focused on the joint investment in FRHI Hotels & Resorts in which Katara and KHC hold 65 percent and 35 percent respectively and explored growth aspirations for the company.
The meeting also deliberated the tremendous change that the global hospitality industry is undergoing and praised their joint investment in FRHI which constitutes a unique hotel management platform with access to three world-class brands across three different chain scales: Fairmont Hotels & Resorts in the upper upscale segment Raffles Hotels & Resort in the luxury segment and Swissotel Hotels & Resorts in the upscale segment.
Both parties reaffirmed their strong partnership and their alignment on value realization for FRHI which currently manages 111 hotels in 27 countries under its three flags.
The successful partnership between KHC and Katara extends beyond FRHI to the iconic Savoy Hotel in London (a Fairmont Hotel) where KHC holds a 50 percent stake and Katara and FRHI own the other 50 percent.
The meeting between Prince Alwaleed and the Katara delegation focused on the joint investment in FRHI Hotels & Resorts in which Katara and KHC hold 65 percent and 35 percent respectively and explored growth aspirations for the company.
The meeting also deliberated the tremendous change that the global hospitality industry is undergoing and praised their joint investment in FRHI which constitutes a unique hotel management platform with access to three world-class brands across three different chain scales: Fairmont Hotels & Resorts in the upper upscale segment Raffles Hotels & Resort in the luxury segment and Swissotel Hotels & Resorts in the upscale segment.
Both parties reaffirmed their strong partnership and their alignment on value realization for FRHI which currently manages 111 hotels in 27 countries under its three flags.
The successful partnership between KHC and Katara extends beyond FRHI to the iconic Savoy Hotel in London (a Fairmont Hotel) where KHC holds a 50 percent stake and Katara and FRHI own the other 50 percent.
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