Summary
A Lebanese commercial bank has been commissioned to find buyers for the posh Four Seasons Hotel Beirut and Movenpick Hotel Beirut, which are partly owned by the chairman of Kingdom Holding Co., Prince Alwaleed bin Talal.
A source familiar with the case told The Daily Star that the financial arm of the local bank had been instructed to conduct due diligence long before the prince's arrest.
The reasons for the sale of Prince Alwaleed's assets in Lebanon were not disclosed.
However, the source stressed that the asking price for the hotels would be established after the completion of due diligence.
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