(Bloomberg)—Hotels used to be gauged by the campaign strategy that won the presidency for Bill Clinton: it’s the economy, stupid. Nowadays, politics may determine their future.
The latest upheaval came with the arrest over the weekend of billionaire Saudi Prince Alwaleed bin Talal, whose Kingdom Holding Co. is co-owner of Four Seasons Hotels Ltd. and New York’s Plaza Hotel.
Here are some hotel companies caught up in shifting political winds globally:
Prince Alwaleed, a prolific and longtime investor in luxury hotels and management companies, was detained on Saturday, one of several family members caught up in moves by Saudi Arabia’s King Salman to clear any remaining obstacles to his son, Crown Prince Mohammed bin Salman, ascending to the throne.