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Marriott plans '$2bn Saudi investment'

RIYADH, February 27, 2018

Marriott International continues to support the growth of Saudi Arabia's hospitality sector with plans to invest $2 billion in the kingdom over the next four years by almost doubling its portfolio in the country, a report said.

Alex Kyriakidis, Marriott’s president and managing director for the Middle East and Africa, said his firm would expand the number of rooms at its hotels to about 12,500 in the next four years from almost 6,800 now, said a report in Reuters.

Building now underway on the almost 6,000 new rooms would cost $2 billion, he said in an interview with Reuters, adding the company would operate 52 hotels once work was completed, up from 23 now, the report said.

The company operates the Marriott, Ritz Carlton, Le Meridien and Sheraton brands in Saudi Arabia, among others.




Tags: hotel | Saudi | investment | Marriott | sector | Arabia |

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