Kingdom Holding Company, the investment vehicle of Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, has sold its 100% interest in the Mövenpick Hotel Ambassador Accra in the Ghanaian capital for US $100 million, reported sister title Arabian Business.
The Saudi-based company said in a statement that it sold the stake to QG Africa Hotel, a Mauritius-based fund managed by Quantum Global Investments Africa Management Ltd.
Prince Alwaleed said: “This transaction marks yet another success for KHC’s value realisation strategy from growth market investments."
“Kingdom continues to be a stakeholder in this asset through our interest in the management company Mövenpick Hotels & Resorts which will continue to operate the hotel,” he added.
KHC’s hospitality investments include major interests in Four Seasons Hotels and Resorts, AccorHotels and Mövenpick Hotels & Resorts.
This is in addition to a real estate portfolio comprising 15 hotels worldwide including the Four Seasons Hotel George V in Paris, The Plaza in New York and The Savoy in London.