The partners of Saudi Hotel Services Company, 40 percent owned by Saudi Hotels and Resorts Areas Company (Sharaco), decided to decrease its capital from SAR 100 million to SAR 70 million.
The company published a sponsored advertising in a local newspaper, confirming the news and saying that creditors can challenge the decision within 60 days from the date of publishing of the advertising.
The company owns the 304-room, five-star Riyadh Palace Hotel.
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