22 October 2015Dur Hospitality Company
announced its preliminary financial results for the third quarter of 2015. Dur's net profit reached 40.7 million riyals, recording 11% growth compared to the same quarter last year.
It is worth mentioning that Dur hospitality completed the renovation work in Makarem Annakheel Jeddah Hotel and Holiday inn Tabuk, and delivered a number of villas in Daraq project in the Diplomatic Quarter in Riyadh, which was a major contributor to the growth of revenues generated from these projects, in addition to the overall improvements in the operation and services of the company's facilities that come in line with its strategic direction.
Dur Also announced that the Hajj season this year was a success, where Makarem hotels, Dur's own hotel brand specialized in the two holy cities, hosted valued pilgrims and provided them with high quality services in Makkah Al Mukarramah, branches, with a 100% occupancy rate, which also had a positive impact on the third quarter results. About Dur:
Dur Hospitality, (Saudi Hotels and Resorts Co.-Hotels Previously) the most prestigious Hospitality Saudi company; has been publicly listed and trading on the Saudi stock market since 1976.
Dur Hospitality owns develops and manages a broad range of tourism and residential properties across The Kingdom. In 2014, Dur announced it will invest SAR 1.5 billion to achieve a planned portfolio of 20 hotels and 6 residential properties by 2023.
Dur Hospitality sets an exemplar for successful hospitality development through presenting genuine hospitality services to become the perfect partner to any local, regional or international party.
This concept was reflected through its partnership with Marriott International & Intercontinental Hotels Group.
Dur Hospitality has also contributed to the development of "Holy cities specialized hospitality", through its own Brand "Makarem" that was recently re-launched with a new identity. Makarem Hotel announced operating 10 new hotels in the coming 5 years in the Holy cities of Makkah and Madinah.