Al Tayyar Travel Group (1810.SE) announced that it had signed a contract with Starwood hotels to run its five-star Kenzi hotel and serviced apartments under the “Sheraton” brand name. According to the company’s statement on Tadawul, the group has completely renovated the hotel including its exterior and interior design and has redistributed its rooms to 304 hotel rooms and 110 hotel apartments. Al Tayyar will also start selling serviced apartments within the hotel to recoup part of its investment cost. The company expects the financial impact of the hotel to begin as of 4Q16. (Tadawul)