Door Hospitality Company has acquired all 700 shares in the capital of the Saudi Hotel Services Company Limited for a total value of 10.5 million riyals paid in full through the company's own financing, following an agreement with the National Bank, thus Dur Hospitality Company owns half of the capital of the Saudi Hotel Services Company of 70 million riyals.

<Dr. Badr Al-Bader, CEO of Dur Hospitality, said: “The acquisition of income-generating assets in the hotel sector is at the core of Dur Hospitality's work and comes in line with the company's expansion vision and investment ambitions in the Kingdom's hospitality sector to promote the sector and contribute to its success and development.“

Dur Hospitality's CEO, Dr. Badr bin Hamoud Al Badr, said: ”The acquisition of this asset is in line with the company's expansion vision and investment ambitions in the Kingdom's hospitality sector.

Dr. Al Bader added: “We have been one of the first shareholders in Riyadh Palace Hotel since its establishment more than 30 years ago, and this step comes out of our belief in the hotel's distinguished position in the hospitality sector in terms of its long history and its strategic location in the heart of the capital Riyadh.“The hotel has 304 rooms and has received a five-star rating according to the General Authority for Tourism and Antiquities

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Riyadh Palace Hotel has always been able to meet the desires of its guests due to its distinctive location in the center of the commercial city and its proximity to the most important ministries, authorities and commercial banks, and in the framework of the constant endeavor to keep pace with the highest standards of hotel service, the hotel has undergone a comprehensive renovation that affected all corners of its rooms, suites, restaurants, business center, lobby and health club, and work is underway to complete the renovation of meeting rooms, main lobby and other facilities.