Mid-market hotel company aims to open 15 hotels in the kingdom of Saudi Arabia over the coming five years.
Citymax Hotels, a UAE-based hotel chain, looks to expand into Saudi Arabia to supply rising demand for three- and four-star hotels, according to a senior executive.
The company looks to open 15 mid-market hotels over the next five years across the kingdom, including Jeddah, Riyadh and secondary locations such as Buraidah, Abha and Yanbu, said COO Russel Sharpe, according to a report by Gulf News.
“Tourism will grow [in Saudi Arabia] ... there is a need for both leisure and business hotels ... the west coast of Saudi Arabia has a number of locations where Citymax hotels would be ideal,” he said.
Saudi Arabia last month announced national reforms aimed at boosting revenue from non-oil sectors like tourism and mining.
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Citymax currently has three hotels with a total of 800 rooms in the UAE pipeline, all of which are scheduled to open in 2017.
Citymax recently underwent a rebranding to increase its appeal among millennials.
“As we move into 2020, customer needs are changing. We have to adapt the product to customers’ needs to ensure we’re still competitive,” Sharpe added.
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