Accor has signed an agreement with Bena Properties to manage its first two properties in Syria under the Novotel and Ibis brands.
Arafeh Holding, a local manufacturing and trading group, mainly specialized in pharmaceutical products is diversifying into the hospitality sector.
Nabil Mazloum, a Saudi investor of Syrian origin, has signed a contract with the Hijaz Railways Organization to develop a 5-star hotel on BOT terms in Central Damascus.
Bardan & Haffi, two Syrian trading families have won a BOT contact from the General Housing Establishment to build a SYP 2.3 billion tourist resort in the Mazzeh district of Damascus.
A new 4-star hotel was inaugurated in Aleppo last week by the Minister of Tourism, Saadallah Agha Al-Qalla.
A Syrian investor will build a cable railway in a tourist site located near the city of Lattakia, after decades when they were banned in Syria.
The average rate charged by “quality hotels” in Damascus rose to USD 236 in 2009, while occupancy rate fell by 8 percent on average, according to a recently industry report.
The Tourism Investment Forum held in Damascus between April 27 and 29 offered some 91 hospitality projects across Syria to potential investors.
Bena Properties laid down on April 24 the cornerstone of its first project, the Yasmeen Rotana Hotel.
Dedeman Hotels and Resorts International will manage a new hotel in Lattakia, the fourth property in its Syrian portfolio.
Nesco Group S.A, Kempinski Hotels’ strategic partner in Syria, has denied that the luxury hotels management chain was withdrawing from the Syrian market.
Syria’s travel and tourism industry will contribute 5.2 percent of the country’s GDP in 2010 according to a recent forecast report from the World Travel & Tourism Council.
The Four Seasons Damascus Hotel continued to be among the most profitable properties managed by Kingdom Hotel Investments, its main shareholder, in spite of a decline in occupancy rates and in average revenues per room.
A new 3-star hotel will take-off the ground in the Jamilia area of Aleppo, following the award of a BOT contract to a local company for that purpose.
2nd International Finance Markets Investment Forum 2011
Sheraton Hotel Aleppo
Damascus International Fairground