Al Tayyar reveals progress on hotel projects

05/05/2016 Argaam

Trial operations are set to begin this month at Al Tayyar Travel Group's Movenpick Hotel City Star this month and the relevant financial impact will be reflected on Q3-2016 results, the Saudi-listed company said in a statement on Tadawul.

 

Al Tayyar also revealed progress on several other ongoing projects, including  the Shaab Quraish hotel, which is 70 percent completed. The property is set to be delivered in Q4-2016 and the related financial impact will be seen in Q2-2015.

 

The tourism company said the Ajyad Hotel and the Makkah administrative building were handed over and the relevant financial impact will reflect on Q4-2016 earnings.

 

Work in another Makkah-based hotel was 90 percent accomplished, with financial impact expected in Q4-2016.

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