On the sidelines of the Arabian Travel Forum held in Dubai recently, the Vice President of the Saudi Commission for Tourism and National Heritage and General Supervisor of the Comprehensive Development Program revealed that international hotel companies will enter the Saudi market by operating 75 hotels over the next four years, with the support and motivation of the Tourism Authority, as a result of its regulation and development of the hotel sector in the Kingdom.
The fruits of foreign participation
Fruits of foreign participation
Dr. Salah Al-Bakhit Al-Taleb praised the participation of the Saudi Commission for Tourism and National Heritage in various international forums and exhibitions, which contributed to encouraging companies to enter the Saudi market, and praised the presence of HRH Prince Sultan bin Salman, President of the Authority, which reflects his personal interest in the tourism sector.
This came after signing an investment agreement with Choice Hotels International at the Saudi pavilion at the Arabian Travel Forum, and Talib pointed out that there are other discussions with international hotel companies as operators after their satisfaction with the new hotel classification systems, and participation in continuous foreign exhibitions motivates companies to come to the Saudi market, where the available opportunities are fully presented and updated, and this is one of the executive plans approved by the Authority to promote hotel investment that started 10 years ago and comes to fruition in every participation.
Talib pointed out that there are other discussions with international hotel companies as operators after their satisfaction with the new hotel classification systems, and the participation in continuous foreign exhibitions motivates companies to come to the Saudi market.
Operate 50 hotels in 5 years
Taleb pointed out the great need of the local Saudi market for four- and three-star hotels that have their own customers and patrons, and the Authority's plans aim to operate between 40 to 50 hotels during the next 5 years, which will contribute to providing the market with mid-level hotels, indicating the entry of international operators with experience in this degree that will increase the efficiency of the market and provide more diversity and options, including Choice Hotels International, which manages more than 6400 hotels globally and is considered one of the largest hotel operators in America.
New global players enter the market
About the other hotels whose entry agreement was signed, the deputy tourism authority said that the international company Shangri-La was signed with the international company Shangri-La, which will enter the Saudi market for the first time in 2018 in the city of Jeddah, and the 4-star hotels signed with Hyatt International through its management of four hotels, two of them in Riyadh, specifically in the Olaya and Sulaimaniya area, and the other two in Jeddah on Sari Street and Medina Road, adding that Time Hotel Company will enter with two hotels, one of which is in Riyadh and the other is in the city of Qurayat on the northern Saudi border about 15 kilometers away, with implementation starting within the next two years, which is a three-star hotel.
