Abdulmuhsen Al-Hokair Group is to open 3 new hotels this year

CEO of Abdumuhsen Al-Hokair Tourism and Development Group said that the company intends to open 3 new hotels this year; Hilton Doubletree-Riyadh, Radisson Blu-Jazan and Holiday inn-Jeddah, adding 500 new rooms and suites.

“The Group is expanding its investments in hospitality sector to raise its market share.  We recently acquired Golden Tulip hotel in Jubail bringing the number of group owned hotels to 28 in 11 Saudi major cities including about 34,000 rooms”; the CEO, Sami Al-Hokair said.

The CMA recently approved offering 30 % of Abdulmohsen AlHokair Group’s Capital or 16.5m shares for IPO during the period from May 28 to June 3, 2014.