KHI sells stake in Philippines hotel
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KHI sells stake in Philippines hotel

KHI sells stake in Philippines hotel

Kingdom Hotel Investments (KHI), a subsidiary of Saudi-based conglomerate Kingdom Holding Co, has sold its stake in the Fairmont Hotel and Raffles Suites and Residences project in Makati City, Philippines. AyalaLand Hotels and Resorts Corp has acquired the stake for $24.11m. The Fairmont Hotel is expected to open in December.

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