Abdulmohsen Al Hokair Group for Tourism and Development Co. (Al Hokair) has signed an agreement with Radisson Blu for the management and operation of a hotel in Al Khobar, which is currently under construction.
Under the terms, the hotel will be leased to Al Hokair for 17 years, and facility is expected to become operational in Q4-2018, Al Hokair in a statement to Tadawul, without disclosing the value of the deal.
The new hotel, set to be built by the property’s owner, Saudi-based Mazen Al Saeed Holding, will include 150 hotel rooms, a multipurpose hall and a health club, it added.
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