Chairman of Kingdom Holding Company (KHC), Saudi Prince Alwaleed Bin Talal pledged on Tuesday to support the Lebanese economy during the coming years and said that his total investments in Lebanon will amount to $1.5 billion. “My investments in the tourism sector in Lebanon amount to $0.5 billion in addition to other investments in the media and banking sectors,” Daily Star quoted him as saying during the opening of the Four Seasons Hotel, adding that the projects totaled $1.5 billion. The opening took place in the presence of President Michel Sleiman, Prime Minister Saad Hariri and Speaker Nabih Berri, in addition to other prominent political figures. KHC is one of world's largest and most diversified private investment companies, with holdings in a large number of Saudi Arabian, Middle Eastern and International companies. In particular, KHC is a leading hotel investor, with a portfolio of hotels and majority interests in international hotel management companies. KHC owns a 47.5 percent in the administration of the Four Seasons Hotels which is one of the world's leading managers of luxury hotels and resorts with a portfolio of 74 luxury hotels and resort properties containing 18,090 guest rooms as of March 2007. These properties are marketed under the brand name Four Seasons in 30 countries. KHC also has a stake in Movenpick hotels and resorts which opened in Lebanon during 2002 as well.
