Hilton Worldwide expands Saudi offering with Obeikan deal
Hilton Worldwide has confirmed the signing of a management agreement with Obeikan Real Estate Development Company for the fourth Hilton Hotels & Resorts property in Riyadh, Saudi Arabia.
The 210-key Hilton Riyadh King Fahd Road is scheduled to open in 2014, following the Hilton Riyadh King Saud University, Hilton Riyadh King Saud University Residence and the Hilton Riyadh Hotel & Residence, all scheduled to open by 2013.
Located on King Fahd Road, the new-build hotel will be next door to the iconic Kingdom Tower and at the hub of all commercial and administrative activity in the Kingdom.
It will also be in close proximity to the Diplomatic Quarter as well as the King Khaled International Airport.
Dave Horton, global head, Hilton Hotels & Resorts said: “We hope our presence will help the capital meet the growing demand for premium hotels with global expertise and local sensibilities.
“This latest signing in Riyadh will complement our existing pipeline in the city and we eagerly anticipate opening up our first Hilton Hotels & Resorts property in such an important city.”
Construction on the hotel has already commenced and once completed, the hotel will feature 210 rooms, a specialty restaurant, all-day dining outlet as well as a pool and lobby lounges. Other facilities include a business centre, health club and spa and executive lounge.
Catering to Riyadh’s considerable events and meetings market, seven meeting rooms, two boardrooms and one ballroom are also planned.
“While our existing pipeline covers East and West Riyadh, this partnership with the Obeikan Real Estate Investment Company will give us a presence in the prestigious downtown district of the capital.
“The location is a perfect match for the brand and will help us cater to Riyadh’s diverse audience spanning the high-end leisure and business segments,” said Rudi Jagersbacher, area president, Hilton Worldwide, Middle East & Africa.
Traditionally a corporate destination, tourism to Riyadh has been primarily driven by administrative activities and commercial developments in and around the city.
The government’s drive to develop the non-oil sector has resulted in some of the largest developments in the region including the Information Technology & Communication Complex and King Abdullah Financial District.
“King Fahd Road is the commercial hub of Riyadh and we are delighted to collaborate with Hilton Worldwide to introduce the Hilton Hotels & Resorts brand into this area.
“The new hotel will be a great fit for this area of town and we hope it will be representative of the quality of Riyadh’s hospitality industry, as the city welcomes increasing numbers of visitors year on year,” stated Fahad bin Abdul Rahman Thanayan Al Obeikan.
Hilton Worldwide currently has six hotels operating and 14 hotels in the development pipeline in Saudi Arabia.