We are delighted to have increased our ownership stake in the Four Seasons Hotel in Damascus. This transaction is firmly in line with our strategy to acquire and consolidate the minority stakes in hotels that we already own.
We will use the new money we hope to raise to help us to achieve our strategy of acquiring luxury hotels and resorts in high growth markets in the Middle East, Africa, Asia and Central and Eastern Europe.
It's an opportunity for people to buy shares alongside one of the most successful people in the world. The share sale will help fund our aggressive worldwide expansion plan focusing on emerging markets in Asia and Africa.