The Saudi Arabia Hotel Investment Conference is set to make its debut with the Kingdom currently having the largest number of hotel rooms under construction in the MENA region, with construction pipeline standing at 40,020 rooms across 89 projects.
Organised by Saudi Event Management and Marketing (SEMARK), co-organised by Bench Events and MEED and hosted by strategic partner Dur Hospitality, the Saudi Arabia Hotel Investment Conference (SHIC) is being held under the theme of ‘Focus on the Future’ at the Riyadh Marriott Hotel on February 26, 2018. The event hopes to bring together around 300 hotel investors, owners, developers and operators.
The inaugural event will be headlined by His Royal Highness Prince Sultan bin Salman bin Abdulaziz Al Saud, president of the Saudi Commission for Tourism & National Heritage, and Her Royal Highness Princess Basmah bint Saud bin Abdulaziz Al Saud, chairwoman of the Global United Centre for Research and Analysis, who will deliver an address on ‘The Future of Saudi Tourism – Transitioning to Tomorrow’, sharing insights into Vision 2030 and opportunities for hospitality investment and development in line with the government’s vision.
Jonathan Worsley, chairman of Bench Events and co-founder of SHIC, said in a statement: "We are delighted to have the support of His Royal Highness Prince Sultan bin Salman bin Abdulaziz Al Saud and Her Royal Highness Princess Basmah bint Saud bin Abdulaziz Al Saud for the inaugural edition of SHIC."
He added: "Having organised the Arabian Hotel Investment Conference (AHIC) for the past 14 years, we have witnessed phenomenal interest from our delegates into hospitality investment opportunities in the Kingdom. Now, as the country’s drive for a more diversified economy highlights new tourism and hospitality infrastructure, we believe it is the ideal time to connect investors and operators at SHIC, with an event dedicated to discussing and debating the issues most impacting the hotel industry’s growth in Saudi Arabia."
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Programme highlights include World Travel & Tourism Council chairman Gerald Lawless presenting ‘Destination Development’ as well as Saudia CEO Jaan Albrecht together with MAAD International chief hospitality officer Abdellah Essonni and Jabal Omar Development Company CEO Yasser Faisal Al Sharif discussing ‘Transformational Development in the Holy Cities’.
The total value of hospitality investment projects in Saudi Arabia stands at US$1.9bn according to a forecast by MEED Projects. Dr Badr Al Badr, CEO of Dur Hospitality and host sponsor of SHIC, commented: "The Public Private Partnerships drive in Saudi Arabia is presenting new opportunities to attract investment into hospitality. Following the announcement of the KSA Vision 2030, a more attractive investment environment is opening the doors for private investors into new areas of the Saudi Arabian economy. This creates significant opportunities for hotel investors."
He added: "A large percentage of Saudi Arabia’s hotel pipeline focuses on the Holy Cities as economists are anticipating 30 million religious tourists by 2025. But hotel development will also be prompted by non-religious destinations, cultural cities and archaeological sites.”
According to the Saudi Council of Economic and Development Affairs, tourism’s contribution to the GDP will go from a current 3.5% to over 10% by 2030.
Access to the Saudi Arabia Hotel Investment Conference is available in conjunction with the AHIC VIP Package which includes other high-end experiences and access to exclusive content at AHIC 2018.
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