Kingdom Hotel, AlBahar in $26m deal


Kingdom Hotel Investment Group (KHI), chaired by Prince Alwaleed bin Talal, and Jassim Mohammed AlBahar have signed a $26.2 million strategic alliance agreement.

The money will be used to purchase shares in KHI and in the Four Seasons Beirut hotel project currently under development. The two sides have also agreed that International Financial Advisors (IFA), chaired by Jassim AlBahar, will invest an additional $24 million in other KHI hotel projects.