Four Seasons Beirut to reopen in 2026 after reconstruction

The Four Seasons Beirut was severely damaged in the 2020 Beirut Port explosion, which devastated much of downtown Beirut, an area once popular with Gulf tourists. File
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Updated 14 January 2025
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Four Seasons Beirut to reopen in 2026 after reconstruction

JEDDAH: The Four Seasons Hotel in Beirut is set to reopen in the first quarter of 2026 after undergoing a comprehensive rehabilitation, according to a statement from Kingdom Holding Co.

“On the occasion of a new era for Lebanon, and under the leadership of His Excellency President Joseph Aoun, I am pleased to announce that the Four Seasons Hotel, Beirut, which Kingdom Holding built, will be entirely reconstructed and refurnished by Kingdom Beirut S.A.L and will reopen to the public in Q1 of 2026,” Prince Alwaleed bin Talal, chairman of KHC, wrote on his X account on Tuesday.

Prince Alwaleed further noted that the hotel, located adjacent to Beirut’s Zaitunay Bay marina, would be upgraded to the highest international standards. The revamp is expected to position the property as one of the premier urban resorts worldwide.

The timing of the announcement follows recent diplomatic developments, including a call from Saudi Crown Prince Mohammed bin Salman to congratulate Lebanon’s new president, with an invitation to visit the Kingdom.

The Four Seasons Beirut was severely damaged in the 2020 Beirut Port explosion, which devastated much of downtown Beirut, an area once popular with Gulf tourists.

The region has since been affected by geopolitical tensions, including Hezbollah’s involvement in the Syrian war and its support for Houthis in Yemen.

Four Seasons, one of the world’s leading luxury hotel chains, has been privately owned by KHC and Cascade Investment, the investment vehicle controlled by Bill Gates, since 2007. Both KHC and Cascade own 47.5 percent stakes in the company, with the remaining 5 percent held by Triple Holdings, which represents Four Seasons’ founder, Isadore Sharp, according to KHC’s website.

KHC’s relationship with Four Seasons dates back to 1994, when the company first recognized the brand’s potential and invested in a minority stake through a private equity deal.


Gulf central banks cut rates by 25 basis points after Fed move

Updated 11 December 2025
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Gulf central banks cut rates by 25 basis points after Fed move

CAIRO: Gulf central banks cut key interest rates by 25 basis points on Dec. 10, mirroring a move by the US Federal Reserve to reduce rates by a quarter of a percentage point in another divided vote. 

The Fed signalled it will likely pause further reductions in borrowing costs with new projections indicating the median policymaker view of just one quarter-percentage-point cut in 2026, the same outlook as in September. 

The oil and gas exporters of the Gulf Cooperation Council generally follow the Fed’s lead on interest rate moves as most regional currencies are pegged to the dollar. Only the Kuwaiti dinar is pegged to a basket of currencies, which includes the dollar. 

Saudi Arabia, the region’s biggest economy, cut its repurchase agreement, or repo, rate by 25 bps to 4.25 percent and its reverse repo rate to 3.75 percent.  

The UAE’s central bank reduced the base rate applied to its overnight deposit facility to 3.65 percent, effective Dec. 11. 

Gulf economies are all at varying stages of diversifying their economies away from hydrocarbons and develop non-oil sectors like real estate, tourism and manufacturing, which require billions in financing and investment. 

Lower rates are expected to stimulate economic activity and bolster non-oil growth. 

The central banks of Qatar, Bahrain, Kuwait and Oman also reduced key rates by 25 basis points.