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Prince Alwaleed Meets Four Seasons & Cascade Management in New York

17th May 2016

Prince Alwaleed meeting with Mr. Smith & Mr. Rndy Jack in the presence of Mr. Zok, May 2016 E

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) met with Mr. Allen Smith, President & CEO Four Seasons Hotels and Resorts, Mr. Randy Jack, Cascade Investments and Mr. Richard Freidman, Cascade Independent Director at The Plaza Hotel during HRH’s visit to New York.

The meeting was attended by Mr. Sarmad Zok, Chairman and CEO of Kingdom Hotel Investments (KHI) and Member of KHC’s Board of Directors, Ms. Hassna Alturki, Executive Manager for International Relations to HRH the Chairman and Mr. Fahad Bin Nafel, Senior Executive Assistant to HRH the Chairman.

During the meeting, the attendees discussed issues related to Four Seasons, Cascade Investments and KHC in addition to the latest developments.

KHC owns a 47.5% stake in the Four Seasons which is co-owned by Bill Gates’ Cascade with a 47.5% stake, and the remaining 5% is owned by Mr. Isadore Sharp. Prince Alwaleed through KHC, Bill Gates’ Cascade, and  Isadore Sharp had acquired the Four Seasons for US$ 3.8 billion when the company was taken private in 2007.

Furthermore, in 2016, Four Seasons was voted “Best Hotel Group Worldwide” in Gallivanter’s Guide. In 2015, Four Seasons was voted “Best Hotel Company to Work For” by Hotelier Middle East Salary Survey.

In addition, Four Seasons George V, Paris has further established its leading position in the global luxury hotel segment with the announcement that Le Cinq, its classic French restaurant, has been awarded 3 stars in the 2016 edition of the prestigious Michelin Guide. This makes it the only hotel in Paris to receive both 3 Michelin stars and the Gault Millau 19 points/5 toques simultaneously.

Recently, Prince Alwaleed had met with the representative of Bill Gates’ Cascade, Mr. Sarmad Zok, Mr. Mohammed Fahmi, Executive Board Member and KHC’s CFO and Mr. Isadore Sharp, Chairman of Four Seasons.

Four Seasons Hotels and Resorts, which opened its first hotel in 1961, is a tale of continual innovation, remarkable expansion and a single-minded dedication to the highest of standards. The Canadian-based company has, for nearly 50 years, transformed the hospitality industry by combining friendliness and efficiency with the finest traditions of international hotel keeping. In the process, Four Seasons has redefined luxury for the modern traveler.