Sunday 31 July 2016
 
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Al Tayyar Travel Group Q2 net profit falls 24.2pc

Saudi Arabia's Al Tayyar Travel Group posted a 24.2 per cent fall in second-quarter net profit on Wednesday. The company made a net profit of SR300 million ($80 million) in the three months to June 30, down from SR396 million

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Ascott signs deal for new serviced villas project in Riyadh

Ascott, a leading service residence owner-operator, is looking to expand its operations in Saudi Arabia with plans for The Ascott Villas Riyadh. Ascott and Bathel Alkhair Establishment for Trading and Real Estate recently inked a

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Ascott signs deal for new serviced villas project in Riyadh

Ascott, a leading service residence owner-operator, is looking to expand its operations in Saudi Arabia with plans for The Ascott Villas Riyadh. Ascott and Bathel Alkhair Establishment for Trading and Real Estate recently inked a

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Travelport, Roibek sign long-term agreement

Leading travel commerce platform Travelport and Roibek Travel, a pioneer of Saudi Arabia’s travel industry, have announced a new long term agreement that will see Roibek exclusively use Travelport’s industry leading technology across

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Saudi hotels see occupancy, rates, decline in Q1

Saudi Arabia's hospitality sector continued to show signs of a slow down during Q1 2016 due to a sustained decline in oil prices and a slowing demand from the corporate sector. Nevertheless, new hotel establishments entered the market during

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KHC acquires 5.8pc stake in AccorHotels

Kingdom Holding Company (KHC), chaired by Saudi billionaire Prince Alwaleed, has acquired a 5.8 per cent share in AccorHotels following the completion of a $3.2 billion deal with a representative from the hotel group's board of directors.

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Brexit costs Saudi's Kingdom Holding $40m on hotel deal

Saudi Arabia's Kingdom Holding on Tuesday said it will lose SR150 million ($40 million) from its share-swap deal with AccorHotels due to foreign currency fluctuations caused by Brexit. The investment firm of billionaire Prince

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Swissôtel to open new hotel in Makkah

Swissôtel Hotels & Resorts has entered into an agreement with Sarah Towers For Real Estate Investment Company for a 1,624-room property in Makkah, Saudi Arabia. Becoming Swissôtel's second property in the relig

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Saudi Arabia posts $14.3bn tourism revenue

Saudi Arabia's tourism sector generated SR53.7 billion ($14.3 billion) in revenues this year, said a report stating official figures. The Saudi Commission for Tourism and National Heritage (SCTNH) unveiled that domestic and in

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Air Arabia launches new Georgia route

Air Arabia, the Middle East and North Africa’s largest budget carrier, touched down in Batumi, the second largest city of Georgia.   The airline operates two weekly flights to the famed Black Sea port city from its prima

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