Saudi prince puts 4 Seasons Toronto up for sale - resources by John Tilak

TORONTO The 4 Seasons Toronto, a luxury lodge inside the town's downtown, is up on the market and could fetch as a great deal as C$250 million ($193 million), in what could be one of the maximum-luxurious offers ever for a hotel in Canada,  assets acquainted with the manner said.

The hotel belongs to kingdom preserving Co 4280.SE, an investment group owned through Saudi billionaire Prince Alwaleed bin Talal.

The sale fee will in all likelihood be inside the range of C$2 hundred million to C$250 million, said the sources, who declined to be identified because they may be not legal to discuss the method.

The four Seasons Toronto is a incredibly sought-after belongings, and is anticipated to draw consumers round the world. Bidders can also include resort chains, personal equity corporations and rich people, the sources stated.

The decision to promote the resort comes as a weak Canadian dollar increases hobby from overseas customers keen to diversify their holdings with Canadian property, such as real estate.

Canada's KingSett real property increase LP and InnVest REIT (INN_u.TO) sold 80 percentage of another iconic downtown Toronto motel, the Fairmont Royal York motel, for C$186.5 million early closing 12 months.

In 2007, the four Seasons discern organization went personal in a deal that saw country retaining and bill Gates' Cascade funding management accumulate maximum of the organization. four Seasons has near 100 residences in approximately 41 countries.

A unit of state Holdings called nation inn Investments specializes in luxurious homes, and owns resorts along with the Plaza in the big apple and the Savoy in London, in line with its internet site.

With 259 visitor rooms, 4 Seasons motel Toronto is positioned within the town's modern day Yorkville community and frequently hosts celebrities who visit during the Toronto worldwide film festival.

The resort has been open considering the fact that 2012. in advance that 12 months, kingdom sold the building's previous place in the same neighborhood.