Rotana to expand in KSA
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Rotana Hotels have announced their intent to expand and open six new hotels in Riyadh, Jeddah, Al-Khobar and Dammam. The new hotels are a key part of Rotana’s expansion and development plans for the Saudi market and other the markets in the region.
Omer Kaddouri, chief executive officer of Rotana Hotel Management said: “Rotana will work to promote the concept of economy hotels, a relatively new concept in the kingdom. The announcement of Rotana’s expansion plans comes as we approach opening of the ‘Rosh Rayhann Hotel by Rotana’ in Riyadh during the first quarter of 2015.”
He further added: “Rotana’s expansion plans will add a significant number of new hotel rooms to the Kingdom’s hospitality sector before the end of 2017 and will provide more than 1500 jobs for Saudi youth in the hospitality sector.”
A specialized report issued recently about the hospitality industry in the GCC countries expects the sector to achieve an annual growth rate of 9.5%, bringing the size of the industry to US$35.9 billion by 2018, compared with US$22.8 bn 2013. The occupancy rate is expected to reach between 68-74% between 2013 and 2018.
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