Dur Hospitality announced the signing of a management and operation contract with Accor Co., through which it will undertake the operations of managing and operating a luxury tourist resort In Jeddah, under Rixos brand. Through the agreement, Dur Hospitality will develop the current Makarem Annakheel Village on Obhor Bay in Jeddah, into a full-fledged tourist resort that includes a luxury five-star hotel, a water park, public swimming pools, a children’s club and an integrated health club, in addition to a number of villas with private pools. All development will be in accordance with the standards adopted by the unique Rixos brand owned by Accor. The resort has a spectacular location at the heart of Jeddah’s Obhor Bay on the Red Sea. The resort features a private beach and 247 residential units, including 174 rooms and 73 villas, and a number of luxurious facilities. The resort has a spectacular location at the heart of Jeddah’s Obhor Bay on the Red Sea. The resort features a private beach and 247 residential units, including 174 rooms and 73 villas, and a number of luxurious facilities. No specific value was determined as the operator charges a percentage of the revenue and profit for the management and operation. Accor Co. will manage and operate Rixos Resort Jeddah, which will include 247 residential units, including 174 hotel rooms and 73 residential villas. Duration of the contract is 20 years from initial date of the resort operations. The expected positive financial impact of this contract will be from the third quarter of 2023.