Swiss-Belhotel International, certainly one of Asia’s leading mid-scale hotel operators, has added a brand 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 chairman 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 economic 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 press release issued by Sheikh Abdallah, the Al Jumaiah Group is specializing in providing creative value in each of its projects, and developing a suite of properties that features four-star, luxury and boutique hotels.
“The co-branding with Swiss-Belhotel International will power our development forward through a partnership where all sides understand the wishes of the hospitality market and might delivers an excellent product to our global customers,” he remarked.
Saudi Arabia is anticipated to deliver 1,182 new internationally branded hotels into the market by 2015 in line with a Colliers International October 2012 market report, with potential for an extra 34,882 mid-scale hotel guestrooms after 2015, located in both primary and second tier cities.
“Internationally branded economy hotels are a good match for the demographic profile of the Saudi market and Swiss-Belhotel International’s modern product is both culturally suitable for local families in addition to appealing to international visitors, with its competitive pricing model,” said Faull.
“With a limited supply of quality internationally branded economy hotels inside the Kingdom this can be a timely opportunity for us to cement the status of the emblem available in the market,” added Faull.
Located at the busy King Fahd Street, only one kilometre from King Abdullah Financial City district, the 126-room hotel Swiss-Belhotel Riyadh is scheduled to open in September 2014.