Δευτέρα, 6 Αυγούστου 2018

Al Habtoor targets hotel sector of Saudi Arabia





Αποτέλεσμα εικόνας για Al Habtoor targets hotel sector of Saudi Arabia




After ending close relationship with Marriott International, the largest hotel operator in the world, Al Habtoor targets the hotel sector of Saudi Arabia.


Mohammed Al-Habtoor, chief executive and vice chairman of the family-owned conglomerate, said he will be going on a “fact-finding mission” to the kingdom soon and is already in talks with potential business partners.


The hotels and leisure developments are a major element of the economic transformation of Saudi Arabia, which is seeking to diversify away from oil dependency.


The projects such as Neom, the Red Sea Resort and Al-Qiddiya present big business opportunities for leisure companies as the kingdom aims to keep more tourist riyals in the country, rather than being spent abroad.


This move was described a couple of days earlier as a “mutual decision reached amicably between the parties,” but Al-Habtoor was in a forensic mood when asked to explain what had happened at Al Habtoor City, the group’s prestigious development in the heart of Dubai.


The relationship with Marriott has been a significant one for Al Habtoor, mutually beneficial in both Dubai and Europe, where the business partnership will continue despite the Al Habtoor City breakup.


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