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FINANCIAL NEWS
France’s Accor signs deal with Saudi Al Ahlam Holding
10 Jun 2014
(MENAFN) Leading hospitality group Accor HotelServices Middle East and Al Ahlam Holding have signed a management deal to manage the new Madinah Road in Jeddah, Saudi Arabia, according to Arabian Business.
The French-based company said the hotel will have approximately 300 units and takes to 15 the number of hotels it operates in the kingdom.
Christophe Landais, chief operating officer for Accor HotelServices Middle East, said: “This signature is the outcome of discussions initiated by His Highness Prince Abdullah Bin Saud Bin Mohammad Al Saud back in 2011 to develop two ibis properties in the Kingdom.”
Al Saud added: “After the successful opening earlier this year of ibis Yanbu, owned by HH Prince Abdullah, we are delighted to sign our second ibis – ibis Madinah Road with Al Ahlam Holding.”
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