Saudi KEC, OYO sign MoU for managing 1,500 hotel rooms

MoU paves the way towards a final agreement regarding the management and operations of 1,500 hotel rooms, under the OYO brand

  
Image used for illustrative purpose. A nice yellow hotel room with one bed.

Image used for illustrative purpose. A nice yellow hotel room with one bed.

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Riyadh – Mubasher: Knowledge Economic City (KEC) signed a memorandum of understanding (MoU) with OYO Oravel Technology to cooperate in managing and operating the Islamic World district project hotels.

The MoU paves the way towards a final agreement regarding the management and operations of 1,500 hotel rooms, under the OYO brand, as the first phase of cooperation between KEC and the hospitality firm in the new project.

KEC revealed that the MoU is valid for two years, according to a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.

Source: Mubasher

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