Riyadh – Mubasher: Abdulmohsen Alhokair Group for Tourism and Development has terminated a SAR 500 million leasing contract with Jabal Omar for Jabal Omar Marriot Hotel.

The deal was cancelled by mutual consent, according to a bourse statement on Sunday.

The move will have a positive impact on Jabal Omar’s financial results for FY 2019.

As for Jabal Omar Marriot Hotel, it will be operated by Mariott International Inc.

It is worth mentioning that Abdulmohsen Alhokair requested the termination as the hotel did not achieve the desired objectives, affirming that it will have a positive impact on the company’s financials starting from 2020