Hyatt plots Saudi expansion

Global hotelier Hyatt has announced major plans for expansion in the KSA, revealing two potential openings in Saudi Arabia within a year.

The first property in Riyadh – the 253-key Hyatt Regency Olaya – is set to open Q3 this year and will expand the company’s footprint in the region, while a second planned 628-key property, Hyatt Regency Makkah, is scheduled to launch within a year, and will target the increasing number of religious tourists in the region.

“We are in consensus that markets like Riyadh and Jeddah plus religious tourism are strong,” Peter Penev director, acquisitions & development, Hyatt Hotels Corporation revealed exclusively to Hotelier. “We feel those two properties will be good anchors creating a triangle between Riyadh, Jeddah and Makkah for our travellers, not only internationally but in the local markets as well.”

In addition, Hyatt has a four-star brand Hyatt Place – its transient product – plus its extended-stay brand Hyatt House in the pipeline for Makkah. “Those are 200 keys each and I believe will open by 2015,” Penev confirmed.

The Hyatt pipeline also includes Park Hyatt in Riyadh, which is due to open by 2015 on King Fahad Road as well as a Grand Hyatt and Hyatt Regency in Jeddah.

“We are pretty well positioned to take advantage of the increase in business in the region as well as domestic travel within Saudi we’re very quite excited about that,” Penev added.