Saudi Real Estate Company signs management agreement with Marriott International
Saudi Real Estate Company has announced it has received the first drafts for all the operating and management agreements related to the arrangement with Marriott International, announced last month. The documents are under review and negotiations are ongoing with the company. Under the agreement, the company’s four-star hotel will be managed under the ‘Courtyard by Marriott’ name, while the serviced apartments will be under ‘Residence Inn’ by Marriott. The letter of Intent (LoI) between the two parties was signed on 11 December. (Tadawul)
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