Group renews hotels
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AFP
Oluşturulma Tarihi: Nisan 22, 2009 00:00
RIYADH - Saudi Arabian tycoon Prince Alwaleed bin Talal's Kingdom group said it is upgrading and expanding luxury hotels in Singapore and London, amid reports the hotels were up for sale.
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Kingdom Holding, one of the country's richest investment groups, said in a statement that it has obtained permission to expand its top-end Raffles Singapore Hotel with up to 78 new rooms.
It said it is also putting its Savoy Hotel in London through a 118 million pound renovation. The statement came after The Times newspaper reported that Prince Alwaleed was planning to sell off the properties to raise cash.