Bin Talal’s Beirut hotels go up for sale

Bin Talal’s Beirut hotels go up for sale
Saudi Prince Alwaleed bin Talal is rumoured to be selling his hotels in Beirut
Kingdom 4280 -1.58% 8.70 -0.14

Riyadh – Mubasher: Saudi Prince Alwaleed bin Talal is rumoured to have put its luxury hotels in Beirut up for sale.

“A Lebanese commercial bank has been commissioned to find buyers for the posh Four Seasons Hotel Beirut and Movenpick Hotel Beirut,” Lebanon’s The Daily Star reported.

This follows the Saudi government’s an anti-corruption cracked down and series of arrests which involved current and former ministers as well as a number of princes including Alwaleed bin Talal.

The Lebanese bank, whose name has not been mentioned, should complete its search for buyers within a month or two, the Lebanese newspaper added, indicating that the results of the search will be made public once a transaction is complete.

The reasons behind bin Talal’s decision to sell his assets in Lebanon remains unknown, the Lebanese newspaper added, citing informed sources.

Related topics
Source: Mubasher

Comments