Dur Hospitality and GACA sign $32m (SAR120m) deal to develop Makarem Arriyadh Hotel.
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).
The development includes an extension to the current agreement for a period of 20 years starting in 2016, according to local media sources.
The development is expected to cost $32m (SR120 million), resulting in increasing the hotel's capacity from 248 to 348 rooms.
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After its completion, the hotel will be operated through an international hotel brand, with supporting facilities including an integrated spa, and the development of the corporate business identity.
The agreement was signed by Dur Hospitality Company CEO Dr. Badr bin Homoud Al-Badr and KKIA Director Yousef Bin Ibrahim Al-Abdan, on behalf of both parties.
Al-Abdan 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 highexpertise and enlightened vision."
Dr. Al-Badr said: "The signing of the agreement represents an important step toward our ambitious development plans of the hospitality industry in Saudi Arabia, and we are committed to providing upscale hotel services that suit our customers' requirements."
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