Marriott International signs deal for three projects in Jeddah

10/06/2018 Argaam

Marriott International has signed a deal with Saudi Arabia-based Al Murjan Group to develop three hotel projects in Jeddah, the US firm said in a statement on Sunday.

The projects will add over 500 rooms in the Kingdom and will feature the Middle East’s first Delta Hotel by Marriott along with Jeddah’s first Marriott Executive Apartments and Four Points by Sheraton.

The Delta Hotels by Marriott Jeddah Al Salam and Marriott Executive Apartments Jeddah, Al Salam, will be part of the Al Salam project.

Developed by the Al Murjan Group, the mixed-use project will include commercial and retail space along with the two hotels.  The hotels are scheduled to open by 2023.

Delta Hotels by Marriott Jeddah Al Salam will feature 175 rooms, while Marriott Executive Apartments Jeddah, Al Salam, will operate 100 apartments.

The Four Points by Sheraton Jeddah, Corniche Obhur will be located on the South Obhur Corniche and will include 306 rooms.  The hotel is scheduled to open in 2019.

Marriott International currently operates 23 hotels in Saudi Arabia, across nine cities.

The firm expects its growth in the country to continue following the recent government announcement to more than double its number of hotels in in Saudi Arabia, in line with the plans under Saudi Vision 2030.


News

Prices

Aramco IPONew

Sectors

Companies

Financial Data

Financial Ratios

Analysts

IPOs

Economy

Mutual Funds

Projects

Interactive Charts