Arwad Tourism Company, a venture by several prominent local businessmen, has seen its contract to develop a 4-star hotel on the island of Arwad cancelled by the Ministry of Tourism, according to a local media.
The Damascus Governorate is to award a contract to Emirati investors for the development of a large hospitality and commercial project in Damascus, one of few large projects by private investors recently announced in Syria.
Jumeirah Group, a UAE hotel management firm, has said that it was continuing forward with its project to manage a 5-star Hotel in central Damascus, as new estimates put occupancy rates in local hotels at 15 percent countrywide and at close to 0 percent in Aleppo.
The Damascus Governorate has issued a tender for the development of a sports and leisure complex in the upscale district of Kafer Sousseh on Build-Operate-Transfer basis.
The Ministry of Tourism has issued a tender to conduct the ”engineering studies” to set-up a tourism project in the Hamamat Al-Sheikh Issa area in the Idlib Governorate, northwest of Syria.
Bab Al-Faraj Tourism and Hotels, the company that owns the Sheraton Aleppo Hotel, is raising its capital by an additional SYP 52 million after it received the go ahead from the SCFMS.
Today, the UK's Foreign and Commonwealth Office updated its Travel Summary for Syria and recommended the delay of non-essential travel to Syria.
The Ministry of Tourism has issued an international tender to conduct a Master Plan for an integrated tourist development area in the region of Palmyra.
The relative competitiveness of Syria’s tourism sector fell sharply in 2010 according to a global survey conducted by the World Economic Forum. According to the Travel and Tourism Competitiveness Index 2011, released lately by the WEF, Syria rankled 105th worldwide in terms of the competitiveness of its tourism sector down 20 ranks from only two years ago when it ranked 85th. 139 countries were surveyed this year.
Cham Hotels, the country’s largest hotel management chain, announced a slight increase in its 2010 profits to SYP 527 million, or USD 11 million, in spite of ongoing disputes with the Ministry of Tourism.
The Syrian Ministry of Tourism is seeking investors to develop and manage a 4-star hotel property located in Central Damascus.
Amer Group, the company operating the Porto Tartous hospitality resort, will start selling units at the project this week, according to Reuters.
The number of tourists that entered Syria in 2010 stood at 8.5 million, a year-on-year increase of 40 percent, while tourist revenues rose 60 percent, confirming that the country’s tourism sector was finally getting closer to its potential.
The Ministry of Tourism is seeking consultants to conduct an integrated study for the development of the Island of Arwad, off Tartous.
Bena Properties has signed a syndicated loan agreement of USD 77 million to finance works at the Yasmeen Rotana Hotel in Damascus.