Another in our series of Interviews with Industry Leaders attending FHS Saudi Arabia taking place on the 29 April - 01 May 2024 at Mandarin Oriental Al Faisaliah, Riyadh, we next speak with Panos Loupasis, Market Managing Director for Türkiye, the Middle East, and Africa at Wyndham Hotels & Resorts.

BTN: What are your core areas of focus when it comes to investment? I.e. in the areas of innovation, sustainability, human capital and/or technology?

PL: Our strategy at Wyndham Hotels & Resorts across Türkiye, the Middle East, and Africa revolves around expanding our mid-market brands while selectively placing our economy and upscale/upper upscale brands where appropriate. In Türkiye, where we currently operate 112 hotels, our focus is on franchise development across tier I, tier II, and tier III cities. In the Middle East and Africa, boasting 70 operational hotels, our growth will primarily target tier I cities with a mix of franchise and management contracts, aligning with market/project demands. Key markets such as the UAE, Qatar, Egypt, and KSA will see increased activity, pursuing projects in tier II and tier III cities in line with Saudi Arabia’s ambitious Vision 2030. Core brands like Wyndham, Wyndham Garden, Ramada, Ramada Encore, and TRYP will drive development, while brands like Vienna House and Trademark Collection show promise. Additionally, our residences products will complement our offerings in growing markets with branded residences. We will continue to focus on the conversion of operational hotels and advanced construction projects to fuel our expansion.

BTN: What is your outlook for the hospitality industry in Saudi Arabia and the wider Middle East in 2024 and beyond?

PL: In 2024 and beyond, we see significant potential in the hospitality industry in Saudi Arabia and the wider Middle East. The economy and midscale sector hold promise, particularly as many markets lack sufficient internationally branded 3 and 4-star hotels. Additionally, branded residences are continuing to gain traction as newer work routines are adapting to become more flexible, catering to growing trends like ‘Bleisure’ stays, and longer stays away from home. We’re seeing branded residences can also serve as a solution to address challenges such as lack of debt financing and increasing interest rates, utilizing proceeds from off-plan sales to support further project development. Overall, we anticipate a highly dynamic and resilient hospitality landscape in Saudi Arabia and the broader Middle East, offering ample opportunities for growth and innovation.

BTN: What does your panel/presentation/workshop at FHS focus on and what will delegates be able to take away from your session?

PL: Our panel at the Future Hospitality Summit focuses on “Economic Resurgence: The Rise of Mid-Scale Hotels in Cities across the Kingdom.” Delegates will gain insights into the growing importance of the mid-scale sector, particularly as Saudi’s Vision 2030 initiative aims to expand tier II and tier III cities in Saudi Arabia, coupled with the goal of increasing visitor numbers from 106 million in 2023 to 150 million by 2030 – we’ll be unpacking how understanding the dynamics of the mid-scale segment becomes crucial in working towards this ambition. We’ll be dissecting key trends, challenges, and opportunities within the sector,  sharing valuable knowledge that can help teams to navigate the evolving hospitality landscape in the Kingdom.

BTN: What are you looking forward to most from your attendance at FHS Saudi Arabia?

PL: As always, I’m looking forward to connecting with peers from the industry and having the valuable opportunity to exchange insights and experiences. I expect the event will also provide a trusted environment to learn the latest news and developments regarding various mega projects in Saudi Arabia first hand, which is very exciting. I’m also keen to engage with government entities within KSA to explore potential collaborations and opportunities for mutual growth within the Kingdom. Overall, I think the event will be a fruitful and enriching experience and I’m very much looking forward to the Future Hospitality Summit in Saudi Arabia.