By Staff writer
Dur Hospitality Co inks $31.9m deal to develop Makarem Arriyadh Hotel located at King Khaled International Airport
Dur Hospitality Company has signed an agreement with the General Authority of Civil Aviation (GACA) to develop Makarem Arriyadh Hotel located at King Khaled International Airport (KKIA) in Riyadh.
The deal includes an extension to the current agreement for a operating period of 20 years starting from 2016.
The development is expected to cost SR120 million ($31.9 million), resulting in increasing the hotel's capacity from 248 to 348 rooms.
The refurbishment alsi includes integrated spa and, after its completion, the hotel will be operated through an international hotel brand, Dur said in a statement.
Yousef Al-Abdan, director of KKIA said: "We are delighted to extend our relationship with Dur Hospitality Company and we look forward to offering more support and encouragement towards the continuity of this fruitful partnership that witnessed a remarkable success over the past few years, and we are expecting even more prosperity, thanks to the huge efforts exerted and to the high expertise and enlightened vision."
Dr Badr Al-Badr, CEO of Dur Hospitality Company added: "We are proud to announce the renewal of our agreement with the General Authority of Civil Aviation and we look forward to the continuance of this successful relationship based on mutual trust, through upgrading our experience together and providing a new concept through an international hotel brand."