(MENAFN) DUR Hospitality announced it is planning to invest USD400 million on re-launching the Makarim Hotels chain as a brand specializing in religious tourism in the holy cities of Saudi Arabia, Arabian Business reported.
The company said that these new investments will also include entering into new partnerships with international franchises that specialize in hotel management and operations, as well as other hospitality projects.
DUR, which currently owns Marriott Riyadh, Marriott Executive Apartments, Riyadh, and Diplomat Courtyard by Marriott, said that the expansion plan will be focused on major cities in Saudi Arabia, as well as select smaller markets such as Jubail and Taif among others.
"The hotels will be managed through the operational arm of the DUR, a specific strategic business unit that will be responsible for hotel operations. It is now developing a religious brand that will serve for the Holy Cities of Makkah and Al Madinah," DUR spokesperson said.
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