Al-Akaria, Starwood sign LOI for 3-tower hotel in Riyadh

09/11/2015 Argaam

Saudi Real Estate Co. (Al-Akaria) and Starwood Hotels & Resorts Worldwide have signed a letter of intent (LOI) for the operation and management of the Saudi firm’s three-tower hotel in Riyadh.

 

The LOI will remain valid until January 31, 2016, Al-Akaria said in a statement to Tadawul.

 

The 25,500 square meter project will feature a Westin branded hotel and hotel apartments building, as well as an Element branded hotel.

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