Marriott International Signs Landmark Deal To Open The First Fairfield By Marriott Hotel In Makkah, Saudi Arabia
2,600-room hotel would be the brand’s largest property and first in Middle East and Africa
RIYADH, SAUDI ARABIA - Marriott International, Inc. (NASDAQ: MAR) today announced that it has signed a landmark agreement with Nahdet Al-Mashaer to open a 2,600-room Fairfield by Marriott property in Makkah. The agreement is expected to deliver the first Fairfield by Marriott property to the Middle East and Africa region, create the largest Fairfield hotel in the world and bring one of the largest hotels to the growing religious destination of Makkah. Construction for the Fairfield by Marriott Makkah Al Naseemhas already commenced and the hotel is slated to open in 2023.
The Fairfield by Marriott Makkah Al Naseemis set to rise in five towers in theAl Naseem district and in close proximity to the Grand Mosque. Plans call for 2,600 well-appointed spacious, modern suites that would separate areas for working and sleeping. The property's public spaces and lounge areas are expected to feature the Fairfield brand's "Modern Calm" aesthetic, which embraces open layouts, multi-functional space and natural light. Plans also call for signature amenities such as complimentary hot breakfast and coffee, fitness center and a lobby market open 24/7.
When it opens, the property is expected to welcome guests visiting on pilgrimage or business with friendly service and comfortable spaces that offer the flexibility to work and rest while staying productive on the road. The brand's Fairfield Guarantee delivers a simple promise to provide each guest with an inviting and effortless experience all at a great value. The Fairfield by Marriott brand currently has more than 1,000 open hotels in the U.S., as well as Latin America, Mexico and Asia.
"As a company, we remain focused on developing projects that further enhance Makkah as one of the most important destinations in Saudi Arabia while supporting the overall growth and development of the Kingdom," said Emad Hejazi, Chairman of Nahdet Al-Mashaer. "We are excited to collaborate with Marriott International to open the Fairfield by Marriott Makkah Al Naseem,which will be one of the largest hotels in the Holy City. The reliability of the Fairfield by Marriott brand, Marriott's world-class service standards and the central location of the property, will make it an ideal hotel destination for those visiting for Umrah and Haj when the property opens in 2023."
Saudi Arabia is currently Marriott International's second-largest market in the Middle East, with a portfolio that consists of 29 properties and over 8,000 rooms across nine brands and nine cities. The company expects to add 20 properties and more than 6,500 rooms across the Kingdom by 2024. Marriott's development pipeline is expected to generate 6,000 new jobs in the country.
Note on Forward-Looking Statements: This news release contains "forward-looking statements" within the meaning of federal securities laws, including the number of lodging properties Marriott may add in the future, the potential for growth in certain markets or sectors, and similar statements concerning possible future events or expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including changes in market conditions; changes in global and regional economies; supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; the availability of capital to finance property growth and refurbishment; and other risk factors that Marriott identifies in its most recent annual report on Form 10-K or quarterly report on Form 10-Q. Any of these factors could cause actual results to differ materially from the expectations we express or imply here. We make these statements as of the date of this press release, and we assume no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Riyadh Airport Marriott Hotel — Riyadh, Saudi Arabia
About AHIC 2020
AHIC, now in its 16th year, is the annual gathering for the Middle East's hospitality investment community organised by global hotel investment event organiser Bench Events in partnership with Middle East business intelligence brand, MEED. AHIC creates a knowledge and networking platform for global and regional investors of all backgrounds, offering essential insights to investing in hotels, showcasing regional and international hospitality investment opportunities and facilitating direct connections with hospitality industry stakeholders. AHIC 2020 will be held at Madinat Jumeirah in Dubai from 14 April to 16 April and hosted by its founding patron, His Highness Sheikh Ahmed bin Saeed al Maktoum, Chairman of Dubai Airports, President of Dubai Civil Aviation Authority and Chairman and CEO of Emirates Airline and Group, whose continued support of the industry and AHIC has been critical to the region's tourism growth.
AHIC 2020 Sponsors
Sponsors include: Jumeirah Group as Host Sponsor; Accor, Al Hokair Group, Marjan, and Dur Hospitality as Platinum Sponsors; Emaar Hospitality Group, Millennium Hotels and Resorts and Marriott International as Emerald Sponsors; and Alkamal International, febc, Insignia, JA Resorts & Hotels, Knight Frank, Louvre Hotels Group, Melia Hotels International, Shaza Hotels, SSH, and STR as Gold Sponsors. Al Tamimi and Company, and MMAC Design Associates are the Silver Sponsors, while The Emirates Academy of Hospitality Management is a Supporting Partner.