Dur Hospitality to invest SAR 1.5 bln in new projects: CEO

10/05/2015 Argaam

Dur Hospitality will invest SAR 1.5 billion into the development of new hotels and luxury residential complexes over the next seven years, the company’s chief executive officer Badr Al Badr has told the state-owned Saudi Gazette.

Part of its new strategy is the re-branding and expansion of its Makarem hotel brand. The company is said to be investing SAR 600 million across 10 new properties in Makkah and Madinah within the next five years.

Although several local and international hospitality players have their sights set on the Saudi market, the two holy cities are of particular interest. The number of visitors to those locations is projected to hit 25 million by 2025, when all construction work is complete.

In addition to renovation and expansion plans, Dur Hospitality is also planning to roll out new guest services, as well as a loyalty program.

Last week, InterContinental Hotels Group (IHG ) signed a
​n​
 agreement with Dur
​, which will​
 establish the first Holiday Inn 
​franchise ​
in the Tabuk Region, Argaam reported.

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