The Syrian Minister of Tourism, Muhammad Rami Martini, announced that the name of the “Saudi Syrian Company”, in which the ministry has a 35% share, will soon be changed.
“There is a national company that will invest in it,” the Syrian minister added to the People’s Assembly (parliament), according to what was reported by the local newspaper Al-Watan.
The “Syrian-Saudi Company for Tourism Investments” is one of the areas of economic cooperation previously between Saudi Arabia and Syria, as the ownership of the company is distributed between the Syrian government represented by the Ministry of Tourism, and Saudi Prince Al-Waleed bin Talal.
The Four Seasons Hotel is one of the most prominent investments the company had in Syria, and since mid-2019, the Four Seasons hotel chain announced the end of its management of the hotel, which was inaugurated in 2005, after the Syrian businessman, Samer Fawz, bought Ibn Talal’s stake in the hotel, which is This led to the belief that the parent company’s announcement to end its management of the hotel came because of the consequences of the US sanctions on Syria, which affected a number of personalities and entities, including a victory.
Source: Al Watan + RT
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