RPT-Saudi’s Kingdom Holding sells $40mln Mauritius hotel stake, http://www.reuters.com/article/2013/06/01/kingdomholding-mauritius-idUSL5N0ED03320130601, drawing by belinda baardsen, artist for wind drinker,artist for animal rescue

RPT-Saudi's Kingdom Holding sells $40mln Mauritius hotel stake, http://www.reuters.com/article/2013/06/01/kingdomholding-mauritius-idUSL5N0ED03320130601, drawing by belinda baardsen, artist for wind drinker,artist for animal rescue

RPT-Saudi’s Kingdom Holding sells $40mln Mauritius hotel stake

http://www.reuters.com/article/2013/06/01/kingdomholding-mauritius-idUSL5N0ED03320130601

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Sat Jun 1, 2013 3:14am EDT
(Repeats with Mauritius and Hawaii topic codes)

(Reuters) – Saudi Arabia’s Kingdom Holding Co has sold its interest in the Movenpick Resort and Spa Mauritius hotel for 150 million riyals ($40 million), it said in a bourse statement on Saturday.

Its stake was bought by Hawaii-based Outrigger Hotels and Resorts, it said.

Kingdom Holding, the investment vehicle for billionaire Prince Alwaleed, will sell 20-30 hotels in the next two years while retaining ownership of its stake in major hotel management companies and in specific high-end hotels, Alwaleed told Reuters last month. (Reporting By Angus McDowall; Editing by Robert Birsel)

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