20% of 155 new KSA hotels planned for Riyadh

155 new hotels are expected to open in KSA during 2014-2015, with the Kingdom's hospitality sector growing at an annual rate over 8.5 percent, reports Arab News.

Recent statistics from the Supreme Commission for Tourism and Antiquities reportedly show that the number of hotel rooms in the Kingdom's five-star, four-star and three-star properties currently exceed 24,000. There are around 55 hotels in Riyadh City, according to the, 15 of which are five-star properties, with Riyadh having 20 percent of the Saudi hospitality market share.

Stephan Kaminski, the pre-operation GM, Burj Rafal Hotel Kempinski, Riyadh, said: "The hotel industry in Saudi Arabia is growing at a positive pace, and the volume of investment in this sector is one of the most important from the point of view of investors due to the Kingdom’s economic stability. This provides a safe haven for investments. Additionally, the occupancy rates reach 100 percent during specific periods of the year and an average of up to 75 percent throughout the year, especially in Riyadh.”

Kaminski added: “ The positive development of the hotel industry has prompted RAFAL, the premier residential communities’ innovator, to appoint Kempinski Hotels, one of the most renowned luxurious European Hotels in the world, to operate their hotel at the Burj RAFAL Community and launch the Burj RAFAL Hotel Kempinski, Riyadh, which is set to open in early 2014.”

Burj Rafal Hotel Kempinski, Riyadh occupies 23 floors of a total of 70 floors at the Burj Rafal Community.

Guests can choose from 350 luxury guestrooms, suites and serviced apartments, two restaurants, three cafes, conference facilities, ballroom for up to 2,000 guests, two spas and wellness centres for men and women.