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Marriott signs first franchise agreement in Saudi Arabia

Dur, Marriott ink $23m hospitality project in Saudi Arabia

YANBU, May 3, 2016

Dur Hospitality will be developing the first Courtyard by Marriott and Residence Inn by Marriott properties in Yanbu, Saudi Arabia following the signing of a franchise agreement with Marriott International during the Arabian Hotel Investment Conference in Dubai.

The SAR87 million ($23.1 million) project, which will be developed on a 7,647-sq-m of land, 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 recognises 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, for Marriott International, 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 a very strong pipeline of more properties to come in more parts of the kingdom over the next five 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 Saudi Arabian government.” - TradeArabia News Service

Tags: Saudi | Marriott | Yanbu | Courtyard | residence | Arabia | Inn | Dur |

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