Saudi Hotels and Resorts Company (SHARCO) has announced the launch of its new identity, according to Arab News.
The company is also changing its trading name to “DUR Hospitality Company”, with a strategic transformation and expansion program involving significant investments.
The official announcement was made in Riyadh by Chairman Abdullah bin Mohammed Al-Issa and CEO Badr Al-Badr after an extraordinary general meeting approved the new corporate identity.
Al-Issa said: “The company plans further expansion of investment in the development of hotels and luxury residential complexes, and looks forward to seeing the company’s revenues triple by 2023.”
DUR will invest more than SAR 1.5 billion in developing three-and four-star hotels and luxury residential complexes, to achieve the planned objective of capitalizing the company’s portfolio by reaching 20 hotels and 6 residential complexes within the next seven years.