Saudi Arabia is preparing its future without oil (Vision 2030) and welcomes foreign hotel projects with open arms
Saudi Arabia, which is seeking to develop while being less dependent on hydrocarbon exports through its Vision 2030, sees hotels and tourism as a means of economic growth that creates jobs.
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Choice Hotels International wants to expand internationally while Saudi Arabia is looking for hotel projects. The operator has announced plans to open seven additional hotels, all operated by CHME Ltd, a subsidiary of Al-Tayyar Travel Group.
The institutions are as follows:
- 3 Comfort Inn & Suites hotels - Riyadh
- 1 Comfort Suites and 2 Quality Inn & Suites hotels - Jeddah
- 1 Comfort Inn & Suites - Taif
Of these hotels, four are already under construction and are expected to be inaugurated in 2019.
Choice Hotels president and CEO Patrick Pacious said: "International growth remains a key strategic focus for Choice, and the Kingdom presents an attractive market for expansion. We are proud to leverage our decades of mid-scale experience to bring more hospitality options that travellers desire to the region."
Al-Tayyar Travel Group CEO Abdullah Al Dawood added: "This is only the beginning of our group’s transformation plan, announced last year, to develop and operate 6,000 keys by 2022. We are confident in Choice’s expertise and ability to help us deliver a high-quality hospitality experience to meet the needs of the fast-growing mid-scale segment in line with the Kingdom’s Vision 2030."
