Abdul-Mohsen Al-Hokair Group signs agreement for new hotel
Abdul-Mohsen Al-Hokair Group (Al-Hokair Group) has announced that it had signed a franchise agreement with Marriott International related to a new hotel, a Courtyard by Marriott hotel, in Al-Khobar. Construction commenced last week. The hotel will include 147 hotels and suites, to be fully developed by its owner Mazen Al-Saeed Holding. The agreement entails a rental contract to lease the hotel to the group for 17 years, effective following the delivery of the hotel, scheduled for 4Q18. (Tadawul)
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