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£4b hotel deal to be signed at London’s Dorchester hotel

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One of the world’s largest hotel deals – for 26 hotels in the Saudi Arabian city of Mecca – is to be signed next week at London’s Dorchester hotel.

Sheikh Abdul Rahman Fakieh, chief executive of the Jabal Omar Development Company, will be completing the $6.5b (£4b) agreement with the chief executives of Hilton Worldwide, Hyatt Hotels Corporation and Marriott International for the development of the properties on a 230,000sq m site.

The deal excludes the price of the land.

Hilton Worldwide has Europe’s largest number of hotel rooms in development >>

Hyatt Hotels plans to increase portfolio >>

Marriott International to double portfolio >>

By Janet Harmer

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