Swiss-Belhotel International, one of Asia’s leading mid-scale hotel operators, has added a new Saudi hotel project to its growing Middle East portfolio with the official signing of a 126-room hotel in Riyadh’s new financial district.
Sheikh Abdallah Al Jumaiah and Khaled Al Jumaiah, president and vice president respectively of owning company, the Al Jumaiah Group, Gavin Faull, chairman and president and Ghassan Aridi, chief executive, Alpha Tours signed the management agreement.
“As the commercial capital of Saudi Arabia, Riyadh captures considerable inbound demand, and the signing of a second property gives us guaranteed city-wide coverage and access to a burgeoning corporate base to drive solid and sustained business growth,” said Faull.
According to a statement issued by Sheikh Abdallah, the Al Jumaiah Group is focusing on providing creative value in every one of its projects, and developing a collection of properties that includes four-star, luxury and boutique hotels.
“The co-branding with Swiss-Belhotel International will power our development forward through a partnership where both sides understand the needs of the hospitality market and can delivers an exceptional product to our global customers,” he remarked.
Saudi Arabia is expected to deliver 1,182 new internationally branded hotels into the market by 2015 according to a Colliers International October 2012 market report, with potential for an additional 34,882 mid-scale hotel guestrooms after 2015, located in both primary and second tier cities.
“Internationally branded economy hotels are a great match for the demographic profile of the Saudi market and Swiss-Belhotel International’s modern product is both culturally suitable for local families as well as appealing to international visitors, with its competitive pricing model,” said Faull.
“With a limited supply of quality internationally branded economy hotels in the Kingdom this is a timely opportunity for us to cement the status of the brand in the market,” added Faull.
Located on the busy King Fahd Street, just one kilometre from King Abdullah Financial City district, the 126-room hotel Swiss-Belhotel Riyadh is scheduled to open in September 2014.