Al Tayyar to develop 30 hotels by 2022, says CEO

Al Tayyar Travel Group Holding Co. seeks to develop and operate 30 hotels in the mid-market segment, with a target of 6,000 hotel rooms by 2022, CEO Abdullah Nasser Al-Dawood told Argaam.

The company is looking to utilize the vast experience it gained through operating Choice Hotels, as it seeks to realize its growth objectives, he added.

Al Tayyar’s board of directors on Tuesday approved the company’s strategic transformation plan that aims to enhance performance and long-term shareholder value, Argaam reported earlier.

Under the plan, the company will focus on four main sectors – travel, hotels, supportive businesses and investments.

The travel services, along with the travel web platform, will represent the main development vehicle of the travel segment. Al Tayyar will increase the budget for updating its travel portals in order to increase the gross booking value to SAR 3.75 billion by 2020, led by its brands Almosafer and Tajawal.

The company will also expand online products to include services such as insurance and vacation activities.