HMH plans new Saudi property openings
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Hospitality Management Holdings (HMH) has revealed its seven new properties in Saudi Arabia are expected to open in the coming months. The upcoming hotels represent three of the group’s four brands serving luxury and mid market segments and will increase the existing HMH inventory of rooms in KSA by nearly 44%.Michel Noblet, president & CEO, HMH, said: “The new hotels will give us greater access to the Saudi market that is growing quickly as demand for rooms soars. STR Global’s February 2011 report for KSA revealed a significant increase in occupancy and RevPAR in the country. Overall, Saudi Arabia saw occupancy rates rise by more than nine per cent, ADR rates increase by nearly 10 percent and RevPAR soar by nearly 20 percent. Our new properties are ideally placed to take advantage of this growth and are an excellent representation of our brands offering world-class business and leisure facilities”. The new hotel inventory will add 658 additional keys to the existing 669 units operated by HMH in KSA – effectively doubling the group’s inventory of rooms in the country.The inventory consists of the Coral Al Hamra – Riyadh (64 rooms and suites), Coral Hotel – Dhahran (153 deluxe rooms and suites), Coral Hotel – Jeddah (64 rooms and suites), Coral Beach Hotel – Jubail (102 rooms and suites), Coral Hotel – Olaya (51 rooms and suites), Corp Executive Hotel – Dabab (128 rooms and suites), EWA Al Kharj Hotel Apartments – Riyadh (96 rooms).According to figures released by STR Global, the supply of rooms is expected to increase significantly in KSA: Riyadh (77.2% with 4,831 rooms in its total active pipeline) and Jeddah (50.5% with 3,033 rooms).
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