Six out of the top ten brands with the most development currently underway throughout the Kingdom of Saudi Arabia are classed as mid-market.
The hospitality industry in Saudi Arabia is witnessing a shift towards the development of mid-range hotels in 2016, according to a new report.
Six out of the top ten brands with the most development currently underway throughout the Kingdom of Saudi Arabia are classed as mid-market, according to a new report from Top Hotel Projects commissioned by the Hotel Show Saudi Arabia 2016.
New mid-market developments include Park Inn by Radisson (1,433 rooms); Hilton Garden Inn (1,155 rooms); Four Points by Sheraton (1,890 rooms); Aloft Hotels (627 rooms); Mercure (528 rooms); and Staybridge Suites (538 rooms).
Hospitality Management Holdings CEO Laurent A. Voivenel said: “Continued development of leisure and commercial areas as well as massive investment in tourism infrastructure in key cities like Riyadh, Jeddah, Makkah and Madinah, is fuelling the demand for affordable accommodation.”
“The mid-market segment is currently under-supplied, pushing the demand for quality serviced apartments as well as three- and four-star properties," he added.
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The Rezidor Hotel Group Saudi Arabia district director Basel Tala said: “Saudi-Arabia is a key focus country for our group offering considerable growth potential and we are committed to the development of the Kingdom, which is underpinned by a genuine focus on economic diversification by the government. We have a very ambitious growth plan in KSA, with a pipeline of 17 hotels and 3,780 rooms over the next five years.”
Upcoming mid-market properties in Saudi Arabia’s pipeline include Accor’s four-star Novotel (450 rooms) and Adagio Aparthotel (77 rooms) and three-star Ibis & ibis Styles (463 rooms), all set to open in 2016 and 2017.
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