Al Tayyar Travel Group Holding said its 51%-owned subsidiary Mawasim Tourism and Umrah Services (MWT) has concluded a contract with Hilton Hotels and Resorts, granting it exclusive rights to offer online booking to guests for one year in Makkah.
This renewable agreement has a duration of one year starting from Saturday October 25.
Under the accord, a number of rooms and suites at Makkah Hilton and Towers Hotel will be allocated to MWT for a total consideration of SAR52.75 million, payable throughout the contract term contingent upon capacity utilization.
The financial impact of the transaction will materialize as of Q4 2014.