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Saudi prince buys Four Seasons Toronto for $247m

Published on Nov 17, 2012 7:31 PM

RIYADH (AFP) - Billionaire Saudi Prince Walid bin Talal's Kingdom Holding investment group has purchased the luxury hotel Four Seasons Toronto, Canada for US$200 million (S$247 million).

"The transaction was funded by a US$130 million mortgage loan, while US$70 million came from (the company's) own resources," Mr Hazem al-Dosari, a Kingdom Holding spokesman, told AFP.

The Four Seasons Toronto features 259 guest rooms, including 42 suites.

"This transaction is in line with our investment strategy to develop hotels in selected key cities," Prince Walid said in a company statement announcing the deal.

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