Bit sad that Al Waleed is cashing out (he'll retain a minority stake), especially since he was always a voice of reason and very supportive. With Cascade in full control, they'll supercharge the expansion. Too early to say where this is headed, but hopefully FS will ensure quality, culture and service levels.

Looking back -- even on property level -- Kingdom has sold quite a few hotels in the last years. Beirut and Marrakech come to my mind. Marrakech was sold just before the pandemic, smart timing.

Kingdom owned FS properties:

George V, Paris
Riyadh
Geneva - 50% Prince Al-Waleed bin Talal 50% Ananda Krishnan
Sharm el Sheikh - Talaat Moustafa Group Holding with Prince Al-Waleed bin Talal - % ??

Beirut - Sold
Marrakech - Sold
Mauritius - Sold
Langkawi - Sold

Not sure if this is a coincidence, but Kingdom's Website is down https://www.kingdomhotels.com/about-us/

On corporate level, Cascade now majority owner, on property level HPL + Albwardy probably now biggest owner of several FS