Alandalus Property began operations on Wednesday at its wholly-owned Staybridge Suites Jeddah Alandalus Mall, it said in a statement to Tadawul on Thursday.
The company has obtained the required licenses to operate the facility from the Saudi Commission for Tourism and National Heritage (SCTH).
The total cost of the project stood at SAR 143 million, including SAR 128 million in construction costs.
Alandalus said that it expects the financial impact from the hotel to show in Q2 2017, adding that it would boost full-year financial results.
Staybridge Hotel, which comprises 120 suites and 44 rooms, will be managed and operated by InterContinental Hotels Group (IHG).
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