FOUR SEASONS TORONTO SOLD to Saudi billionaire Prince Alwaleed bin Talal,

Posted on 10/04/2016 | About Toronto, Ontario

Saudi billionaire Prince Alwaleed bin Talal, has sold the Four Seasons Hotel Toronto for $225 million. The hotel, owned by the Prince’s Saudi Arabia's Kingdom Holding 4280.SE was sold to Shahid Khan, Pakistani-American founder of automobile parts maker Flex-N-Gate Group and owner of the Jacksonville Jaguars American football team and London's Fulham Football Club.

The sale occurred as a weak Canadian dollar increases interest among foreign investors eager to diversify their holdings with Canadian assets including real estate.Canada's KingSett Real Estate Growth and InnVest REIT INN_u.TO bought 80 percent of another iconic downtown Toronto hotel, the Fairmont Royal York Hotel, for $186.5 million early last year.Four Seasons Hotels and Resorts, in which Kingdom Holding owns 47.5 percent along with a similar stake held by Bill Gates’ Cascade Investment, will continue to operate the Four Seasons Toronto.