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Kingdom Hotels considers selling minority stakes in hotels

06 July 2010

Sarmad Zok, CEO of Kingdom Hotel Investments, a unit of Kingdom Holding, may sell minority stakes held in hotels as part of a plan to focus on higher-earning properties, Bloomberg has reported. The company will evaluate its portfolio of hotel assets as well as the hospitality and real-estate investments of its parent to "reconfigure the overall strategy to capture greater benefits," Zok said. The company plans to spend $800m on hotels in the second half this year and first half of 2011, Zok said in May.

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