RIYADH, 31 October 2007 — Kingdom Holding Company (KHC), chaired by Prince Alwaleed bin Talal, yesterday announced a SR375 million refinancing of Hotel des Bergues in Geneva.
The 103-room hotel offers residential-style rooms and suites with picturesque views of Lake Geneva and city views. The bright and airy guest rooms are adorned with Louis Philippe-style furnishings that represent the hotel’s classic heritage with a spectrum of rich blue and green fabrics and woods.
The Hotel des Bergues is Geneva’s first hotel located in the heart of the city, has a historical significance and was built over 170 years ago. It was the choice of stay for many world travelers and heads of state, and has been a monument on the Rhône since 1834.
While the hotel maintains its heritage, it has been revitalized to balance with today’s technological advancement, sophisticated service, and warm hospitality. The hotel was purchased by Alwaleed in 2003 for SR326 million, KHC said in a statement.
KHC also announced recently the refinancing of the Four Seasons George V hotel in Paris with net cash proceeds valued at SR285 million going to KHC. George V is described as the “creme de la crème” of hotels.