Hyatt International Spreads its Network in KSA with Signing of Hyatt Regency Riyadh
Mohammed A. Al-Swailem Co. for Commercial Investment signed a management agreement with Hyatt International for its new hotel in Kingdom of Saudi Arabia – Hyatt Regency Riyadh. The 257 keys hotel is part of Al-Swailem Tower comprising of upscale shopping arcade and commercial complex. Owned by Mohammed A. Al-Swailem Co. for Commercial Investment, the 32-storey project is spread in an area of 7000 m2 with total built-up area of 5300 m2 and is in advanced stages of development. It is expected to welcome its first guests by the last quarter of 2013.
Speaking on the occasion Eng. Ali Al Swailem said, "Hyatt Regency Riyadh has been conceived to be a prestigious address for discerning business and leisure travellers to the capital and enjoys a prime location on Olaya street. It is a very significant project for us. We are pleased to work with Hyatt International on this exciting new development and look forward to collaborating with them. At the moment we are witnessing remarkable growth in the hospitality industry especially with the generous support given to tourism by His Royal Highness Prince Sultan bin Salman bin Abdul Aziz, President of Saudi Commission for Tourism and Antiquities. This requires meeting the needs of the Saudi hotel sector in accordance with the best international standards which are fully met by Hyatt Regency Riyadh in both quality of project and level of service and luxury offered."
It is the fifth hotel in Saudi Arabia under the ownership of Mohammed A. Al-Swailem Co. for Commercial Investment in addition to several furnished apartments spread across KSA.
Mr Fulton said, "Saudi Arabia is a key development market for Hyatt International. We are very proud to be here and to enter into this very important partnership with Mohammed A. Al-Swailem Co. for Commercial Investment. Hyatt is well-positioned in the Kingdom as one of the largest global hotel brands. We are confident Hyatt Regency Riyadh will bring tremendous value to our growing presence in KSA and further strengthen our portfolio."
Conveniently located 30 minutes from King Khaled International Airport in Riyadh, Hyatt Regency Riyadh offers easy access to key business and leisure attractions in the city. The hotel has a distinctive façade and is being designed to offer a full range of upscale services and facilities tailored to serve the needs of meeting planners, business travellers and leisure guests. Included in its facilities are a speciality restaurant, fully-equipped health centre including swimming pool, massage, sauna, Jacuzzi and gym, state-of-the-art business centre and meeting rooms, a beautiful multi-function hall for 300 people, tennis court, car park for 300 cars as well as a shaded VIP car park for 30 cars.
Riyadh is an important business destination and a high potential market for hotel development. The Saudi Commission for Tourism and Antiquities (SCTA) estimates that tourism revenues in the Kingdom will reach a total of SR118 billion (US$31.5 billion) in 2015, and SR232 billion (US$61.9 billion) in 2020 making the Kingdom a fertile ground for any new hotel development.
Mohammed A. Al-Swailem Co. for Commercial Investment was founded in 1984 by Sheikh Mohammed Ali Al Swailem, the Chairman of the company, and has been associated with many prestigious government and private sector projects in diverse fields including building construction, roads, public and private services, as well as water, sanitation and other specialized areas. Over the years the company has amassed enormous experience in the execution of mega infrastructure projects. The hotel division under the group is active in development of hotels and currently has under its banner Mercure Al Khobar, Ramada Hotel & Suites Al Qassim, Ramada Gulf in Al Khobar, Hyatt Regency Riyadh and Coral Gulf Hotel Riyadh. For more information please visit www.alswailem.sa
About Hyatt Hotels Corporation
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 12 premier brands and 679 properties in 54 countries, as of September 30, 2016. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to create value for shareholders, build relationships with guests and attract the best colleagues in the industry. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences and vacation ownership properties, including under the Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric®, The Unbound Collection by Hyatt™, Hyatt Place®, Hyatt House®, Hyatt Ziva™, Hyatt Zilara™ and Hyatt Residence Club® brand names and have locations on six continents. For more information, please visit www.hyatt.com.