TORONTO — According to the National Post, anonymous sources say the Four Seasons Hotel Toronto is going up for sale. The downtown property is expected to fetch between $200 million and $250 million, making it the most expensive sale of a Canadian hotel in the country’s history.
Currently, the hotel belongs to Saudi billionaire Prince Alwaleed bin Talal’s investment group, Kingdom Holding Company. The Four Seasons Hotels and Resorts, which owns 98 properties in 41 countries, went private in 2007 when Kingdom Holding Company and Bill Gate’s Cascade Investment Management collectively acquired the majority of the company.
The Four Seasons Toronto sale is expected to attract investors from around the globe as the highly sought-after property hits the market at a time when the weak Canadian dollar is attracting international investors who are looking to diversify their holdings in Canada. [National Post]