Jabal Omar Development Company announces it’s signing of a contract for leasing one of its hotels in its project in Makkah

Jabal Omar Development Company (JODC) announced that on June 9th 2017, an agreement was signed with Abdulmohsen Al-Hokair Group for Tourism and Development to lease Jabal Omar Marriott Hotel – Makkah (Five-Star Hotel), located in phase one of Jabal Omar project, for a period of 15 years. The hotel includes 426 rooms/suites, two restaurants and meeting rooms.

Furthermore, the agreement also includes that the contracting with Marriot Company will be transferred to Al-Hokair Group, while retaining the brand name of Jabal Omar Marriott Hotel. It is expected that the financial impact will show in a positive manner, starting from the current fiscal quarter of the current fiscal year; noting that this contracting does not included a relevant party.