Over $300 million invested by Prince Al-Waleed to restore George V hotel
The 12th annual reader poll of Gallivanter’s Guide selected Four Seasons George V in Paris as the “best prestigious hotel worldwide” for the third year in a row. The hotel is owned by Saudi Prince Al-Waleed Bin Talal Bin Abdulaziz Al-Saud, chairman of Kingdom Holding Company.
The Guide, which specializes in reporting hotel and tourism news, explained that the selection process of readers is based on the distinctive quality and special service provided to hotel guests.
According to the Guide, George V is a prestigious hotel providing the best in quality and services, and managed by the best professionals in the hotel industry. In another poll published by the Guide, George V was selected as the best hotel/resort cuisine worldwide for Le Cinq Restaurant, the winner of the Michelin stars.
Prince Al-Waleed acquired the George V in 1996 for $178 million. A two-year $125 million comprehensive renovation started in December 1997. The total cost of acquiring the hotel and renovation amounted to $303 million. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
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