Rotana has taken over the management of Damac Towers Arjaan by Rotana in Riyadh, with the property set to open in early April.
The announcement follows a partnership signed between the company and Damac Hotels & Resorts last year.
Located on King Fahd Road, the twin-tower architectural landmark offers a total of 448 luxurious rooms, suites and penthouses.
The hotel features state-of-the-art amenities such as meeting and events facilities, a wellness and fitness centre, separate temperature-controlled swimming pools for men and women, and a well-equipped gymnasium, among others.
Guy Hutchinson, chief executive of Rotana, said: “It is a pleasure to partner with Damac Hotels & Resorts on the launch of our seventh hotel in Saudi Arabia.
“This exciting new property marks the Saudi debut of the Arjaan Hotel Apartments by Rotana brand, further enhancing our diverse portfolio in the kingdom and bringing elegant city living to the heart of Riyadh.
“Offering the finest in extended-stay, we have no doubt that this hotel will become a preference for travellers looking for a luxurious home-away-from-home experience.”
The new property brings Rotana’s total tally in the Kingdom to seven hotels and 2,087 keys with a strong development pipeline including Centro Corniche, Al Khobar and Dana Rayhaan by Rotana, Dammam.
The two properties are also scheduled to open during the first half of 2020 and will add further 807 rooms to the hotel operator’s total inventory.
“Despite the current global situation, we remain optimistic about the kingdom’s tourism performance and the region as a whole.
“Governments in various countries are focusing strongly on economic diversification, and with tourism playing a central role in these efforts we look forward to a bright future for the hospitality industry,” added Hutchinson.
Driven by a thriving MICE sector, increased infrastructure investments and the development of touristic attractions and major real estate and entertainment projects, including the Red Sea Project, the kingdom’s hotel market is projected to exceed $24 billion by 2025.
The government has set an ambitious target of new 56,106 hotel rooms between 2019 to 2021 in line with the goals of Saudi Vision 2030.