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FINANCIAL NEWS
Accor, Saudi Al Hokair Group in first Suite Novotel franchise deal
18 Dec 2012
(MENAFN) Accor Middle East, a unit of French hotel group Accor, is about to expand its presence in Saudi Arabia, as it seeks to benefit from the growing tourism sector in the Gulf Kingdom, Arabian Business reported.
The hotelier said it has inked a franchise management contract with Al Hokair Group for Tourism and Development to develop the first Suite Novotel hotel in Riyadh.
This is the first franchise agreement between Accor and Al Hokair Group and their second project after the opening of Novotel Dammam Business Park in 2011.
Expected to open at the beginning of 2013, the Suite Novotel Riyadh Olaya will feature 115 suites, several food outlets, banqueting facilities, three meeting rooms, and leisure and recreational facilities including a swimming pool and a fitness club.
Accor Middle East currently holds a portfolio of 59 hotels representing 14,158 rooms includes 12 operational hotels in Saudi Arabia.
Out of the 22 new hotels under development, seven will open in Saudi Arabia.
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