Bardan & Hafi, 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.
Kempinski Hotels has announced that it has cancelled the contracts for the management of three properties in Damascus.
Syrian President Bashar Al-Assad has issued a decree encouraging the establishment of tourist resorts near forested areas.
Bena Properties has awarded Arabtec Holding a USD 67 million contract to build the Yasmeen Rotana Hotel in Damascus.
The National Investment Centre, a local company, has announced that it had won a contract to develop a tourism resort in Homs on BOT terms.
Damascus Chamber of Commerce
Damascus International Fairground