Altayyar Group

Jul 2016,11 | admin | news

Al Tayyar Travel Group signed with Starwood Worldwide to operate the hotel under Sheraton Hotels and Resorts

Al Tayyar Travel Group signed with Starwood Worldwide to operate the hotel under Sheraton Hotels and Resorts

Al Tayyar Travel Group Holding Company has revealed the latest developments concerning the five-star hotel opposite the sacred precinct of MAKKAH, which it acquired on 7 Jumada al-awwal 1437, corresponding to 26 February 2015. The group performed total renovations to the hotel, including the facades, apportionment, internal design of floors, public facilities, halls, elevators and oratories.

Riyadh, 11 JULY 2016:
Al Tayyar Travel Group Holding Company has revealed the latest developments concerning the five-star hotel opposite the sacred precinct of MAKKAH, which it acquired on 7 Jumada Al-awwal 1437, corresponding to 26 February 2015. The group performed total renovations to the hotel, including the facades, apportionment, internal design of floors, public facilities, halls, elevators and oratories. It is worth noting that the hotel is linked to the campuses of the sacred precinct of MAKKAH through the expansion executed during the late king Abdullah era.
Al Tayyar travel indicated in a statement that the rooms were reallocated over 25 floors to create 304 rooms, 110 apartments and vital facilities as follows. The first 12 floors hold 304 hotel rooms and suites, with each floor encompassing 19 rooms and 7 suites, except for one that encompasses 18 rooms and a private hall for VIPs and executives. The top 13 floors hold four floors equipped for the use of people with special needs, and 110 hotel apartments. The hotel contains 3 restaurants and 1 café, not to mention all facilities prerequisite for operating a five-star hotel, as well as the VIPs hall.
Al Tayyar Travel also announced on Thursday 30 June 2016 that it has entered into an agreement with Starwood Hotels and Resorts Worldwide, Inc. to operate the hotel and the apartments under the trademark Sheraton Hotels and Resorts.
The board of directors ratified, in its resolution issued Thursday 30 June 2016, the adoption of the strategy to sell the apartments to recover a significant amount of the capital funds invested in the hotel and infuse them into other enterprises, while continuing to operate and manage the apartments for customers that wish them to do so. This would optimize the use of funds, and maximize the returns on investments. Related details are to be declared after plans are set, and it is time to execute the strategy.