Saudi prince to buy Geneva hotel
The Saudi prince Alwaleed bin Talal, the world's 11th richest man, is planning to buy Geneva's oldest hotel, according to The Independent.
Prince Alwaleed, nephew of Saudi Arabia's King Fahd, is due to sign a contract regarding the sale of the five-star Hôtel des Bergues next month to expand his luxury hotel business in Europe.
The prince already owns nine hotels outside the Middle East, including the George V in Paris and half of The Plaza in New York. He is also understood to be developing at least 10 more luxury hotels outside the Middle East with partners.
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