Dur says 2022 results reflect robust Saudi economy, improves diverse pipeline of hotel, real estate projects

Dur Hospitality headquarters

Dur Hospitality Co.'s profit and revenue growth in 2022 reflects the strong performance of the Kingdom’s economy and the remarkable recovery of Umrah and Hajj seasons and high demand for hotels in Riyadh, due to the extraordinary growth in the Meetings, Incentives, Conferences & Exhibitions (MICE) sector and the significant increase in revenue from the real estate sector, resulting from the full occupancy of residential complexes.

In a statement, Dur said that during 2022, it continued to upgrade and expand its facilities, scale up its services, and enhance customer experience. Dur bolstered innovative digital services and promoted world-class quality standards to satisfy guests' needs across its properties.

This comes within its ambitious vision to elevate the sector, contributing to the Kingdom's transformation and rendering it a global tourist hub, in line with Saudi Vision 2030.

Committed to further improving a diverse pipeline of 14 hotels and real estate projects under development throughout the Kingdom, Dur aspires to inaugurate its luxurious Darraq Al Hada the current year, comprising 75 fully furnished residential villas in the vicinity of the Diplomatic Quarter.

It also fast-tracked the work to complete the Rixos Jeddah Resort, the debut project of Rixos luxury residential chain in the Kingdom, scheduled to open next year. Additionally, Dur's five-star Makarem Burj Al Madinah, located north of the Prophet Mosque, is set to feature 400 suites and luxury rooms.

This comes as part of the company's strategic plan to augment its capabilities as a leading operator of hospitality services and a key driver of business, family, and recreational hospitality.

Dur’s profit surged to SAR 40.1 million in 2022, from SAR 1.2 million a year earlier, Argaam reported.