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FINANCIAL NEWS
Hilton to run a fourth property in Riyadh
12 Jan 2012
(MENAFN) Hilton Worldwide inked deal with Obeikan Real Estate Development Company to operate a fourth hotel in Riyadh, Arabian Business reported.
The deal will see the Hilton operating the 210-key Hilton Riyadh King Fahd Road, due to open in 2014.
Hilton previously signed three deals to operate properties in Riyadh including Hilton Riyadh King Saud University, Hilton Riyadh King Saud University Residence and the Hilton Riyadh Hotel & Residence, all scheduled to open by 2013.
Dave Horton, global head, Hilton Hotels & Resorts said this latest deal will complement Hilton’s existing pipeline in the city, adding that construction on the hotel has already started.
Hilton Worldwide currently has six hotels operating and 14 hotels in the development pipeline in Saudi Arabia.
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