KHI sells its interest in Zambia Hotel for US$36 million
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Kingdom Hotel Investments (KHI) has announced its intent to sell its 100% interest in the InterContinental Hotel Lusaka to QG Africa Hotel LP, a Mauritius-based fund managed by QG Investments Africa Management for a gross consideration of US$35.9 million.
Sarmad Zok, chairman and CEO of KHI and Member of KHC ‘s board of directors said: “The sale of InterContinental Hotel Lusaka is part of KHI’s ongoing value realization mandate and speaks to the quality of our assets and our team execution.”
KHI has major interests in luxury hotel management companies Four Seasons Hotels and Resorts, FRHI Hotels & Resorts, and Mövenpick Hotels & Resorts, and a real estate portfolio comprising 18 hotels worldwide.
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