02 May, 2016

Dur Hospitality, Marriott invest SR87m to build residence inn in Yanbu

Dur Hospitality has signed a franchise agreement with Marriott International during the 2016 Arabian Hotel Investment Conference held in Dubai.

02 May 2016
JEDDAH -- Dur Hospitality has signed a franchise agreement with Marriott International during the 2016 Arabian Hotel Investment Conference held in Dubai.

Under the agreement, Dur Hospitality will be developing the first Courtyard by Marriott and Residence Inn by Marriott properties in Yanbu on a 7,467 sqm land with an SR87 million investment. This project will be Marriott International's first franchise agreement in the Kingdom.

Dr. Badr Al Badr, CEO, Dur Hospitality, said: "We value our relationship with Marriott International and constantly seek opportunities to take it to the next level and this comes in line with our fruitful strategy that recognizes the importance of building strategic partnerships with international hotel operators. As a leading hospitality company that has been operating in the Saudi market for over 40 years, we are participating in AHIC to share our extended hotel operation experience in the Saudi market with regional and international companies."

Alex Kyriakidis, President and Managing Director, Middle East & Africa, Marriott International, Inc., said: "We are extremely proud to build on our long-standing partnership with Dur Hospitality in the Kingdom. Saudi Arabia is one of our key markets both for existing hotels as well as having a very strong pipeline of more properties to come in more parts of the Kingdom over the next 5 years. We hope that under this agreement we will work on other cities and sites around the Kingdom. Our being here for all these years is due to the continuous support we have received from our partners Dur Hospitality, and the Kingdom's government."

Dur had previously tendered a request for the proposal to supply architecture and design services, whereby Hening Larsen Architect won the tender, and provided a hotel design that comprises a 150 unit property (rooms and serviced apartments) on a build-up area of 12,540 square meters.

© The Saudi Gazette 2016

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