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Las Vegas Business Press
Friday, September 5, 2008
Luxury hotel group announces IPO

By Ian Mylchreest
February 1, 2006

Kingdom Hotel Investments has announced plans to sell stock to the public, reports Bloomberg. The company will list in Dubai and list global depositary shares in London.

The company has gained notoriety from its owner, Saudi Prince Alwaleed bin Talal, who is the world’s fifth-richest man.

The company holds stakes in 26 luxury and upscale properties in 13 countries. Alwaleed has invested in more than 260 hotels in the U.S., Middle East and Africa. His strategy is to focus on the luxury segment, where the biggest growth has been.

Maybe all those luxury properties slated for the Strip will be part of that success.





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