RIYADH, 30 May 2007 — Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), and a delegation accompanying him were on a visit to Morocco arriving in Fez, on Monday.
The prince was warmly received by King Mohamed VI at the Royal Palace.
During the visit, Prince Alwaleed unveiled a plaque and laid the cornerstone for the Four Seasons Hotel Marrakech with Prince Moulay Rachid.
The hotel is located between the serenity of the adjoining Menara Gardens and the heart of the ochre city, the Medina.
The project is described as the first of its kind to be constructed in Morocco and operated by the Four Seasons Hotels & Resorts.
The $200 million project will include a 140-room luxury five-star hotel and 40 Ryads & Villas, which will both be branded and managed by Four Seasons Hotels and Resorts of Canada.
The development covers 15.7 hectares of mature landscape. The hotel design and layout will reflect the prominence of Morocco's heritage and architectural culture.
The hotel will be overlooking the inescapable and world famous snow capped Atlas Mountains.
"We are proud to make a significant investment in the luxury lodging market in Morocco, a well established upscale destination that has adopted a focused tourism strategy. We are particularly encouraged by the unique vision of King Mohamed VI in positioning Morocco and Marrakech at the upper market level," Prince Alwaleed said.
