In keeping with its strategy to prioritize expansion in GCC, HMH – Hospitality Management Holdings is aggressively targeting opportunities in KSA.
Laurent A Voivenel, CEO of HMH said: “Saudi Arabia is a land of opportunity both in terms of domestic, inbound and outbound tourism as well as religious tourism and is a pillar of our expansion strategy. In terms of development, 36% of the total Coral Hotels & Resorts portfolio, that is our flagship four and five-star brand, is currently located in Saudi Arabia and we are eager to build on our success.”
Laurent further added: “In Q1 of 2017, we have an opening with Coral Al Madina Hotel in KSA that will boost our product offering in the country. The hotel is being developed to be the first ‘Smart’ hotel in Madina offering advanced technology including high-tech smart rooms. Featuring 400 plus rooms and suites, Coral Al Madina Hotel is spread over 10 floors and five basements.”
Other facilities offered by the hotel include three restaurants, lobby lounge, luggage room, shopping arcade, fully-equipped gym and spa, two meeting rooms and a business center. There is also a helicopter landing site.
Saudi Arabia is the second largest hub for hotel construction in the Middle East and Africa, behind only the UAE. According to figures available from World Travel & Tourism Council, the direct contribution of Travel & Tourism to GDP was SAR68.4bn (2.4% of total GDP) in 2014 and is forecast to rise by 4.3% pa until 2025, to SAR110.8bn (2.8% of total GDP) in 2025. Likewise Travel & Tourism investment will rise by 4.3% pa over the next 10 years to SAR149.1bn in 2025 (12.7% of total).