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RPT-Saudi's Kingdom Holding sells $40mln Mauritius hotel stake
June 1, 2013 / 7:07 AM / 4 years ago

RPT-Saudi's Kingdom Holding sells $40mln Mauritius hotel stake

(Repeats with Mauritius and Hawaii topic codes)

RIYADH, June 1 (Reuters) - Saudi Arabia’s Kingdom Holding Co has sold its interest in the Movenpick Resort and Spa Mauritius hotel for 150 million riyals ($40 million), it said in a bourse statement on Saturday.

Its stake was bought by Hawaii-based Outrigger Hotels and Resorts, it said.

Kingdom Holding, the investment vehicle for billionaire Prince Alwaleed, will sell 20-30 hotels in the next two years while retaining ownership of its stake in major hotel management companies and in specific high-end hotels, Alwaleed told Reuters last month. (Reporting By Angus McDowall; Editing by Robert Birsel)

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