VOL. XLV

No 18

6-May-2002

SAUDI ARABIA

Saudi Prince al-WalidStarts $1Bn Hotel Investment Group

Saudi entrepreneur Prince al-Walidibn Talal ibn 'Abd al-'Azizsaid 29 April that he was starting a $1bn group to invest in hotels in the Middle East. He has consolidated his Middle Eastern hotel assetsinto an independent entity called Kingdom Hotel Investment Group (KHI), whichcurrently owns 10 properties in the Middle East and, through local partners,controls real estate worth more than $1bn. KHI...