Radisson Group unveils significant expansion plans for Saudi market
Group aims to add 20 new hotels to its existing portfolio of 24 across several cities in the Kingdom
The Radisson Group plans to open 20 new hotels over the next three years in key Saudi cities as part of its expansion plans for the Kingdom. 1,600 new rooms will be created across several cities including Makkah and Jeddah. The new hotels will be in addition to the 24 hotels, resorts and hotel units currently being operated by the group in Saudi, the group explained.
Other hotels scheduled to be launched include the Radisson Blu Hotel at the Riyadh International Convention and Exhibition Centre, the Mansard Hotel in Riyadh and the Radisson Collection Hotel, the second hotel for the luxury brand “Radisson Collection” in Riyadh, said a statement from the firm.
Radisson Group CEO Federico Gonzalez said the group aims to boost its investment portfolio in the Kingdom to around 50% of its total investments in the Middle East by 2026. The group is also set to open a regional office in Riyadh this year to support plans to double its operational portfolio by adding more hotels in various regions, corresponding to its five-year plan to create more job opportunities.
“The commitment of Radisson Hotel Group to developing new hotels in Saudi Arabia and opening a regional office in Riyadh is an effective contribution to enhance the steps taken by the kingdom to achieve its goal of receiving 100m visitors by 2030,” said Gonzalez following a meeting with the Saudi Minister of Tourism Ahmed Al-Khatib.
The move will be a major boost to the National Tourism Development Strategy, which aims to make available 854,000 new hotel rooms, Al-Khatib said. 70% of the rooms will be financed by the local and foreign private sectors, in line with Vision 2030 target to hit the 100m visit benchmark in the next 10 years, thus putting the tourism sector’s contribution to the country’s GDP at 10% and create one million new jobs.
Al-Khatib concluded, “This cooperation is a continuation of our partnerships with world-leading hotel brands. The continuing partnership with the private sector is a vital element of the Kingdom’s tourism strategy.”
