Riyadh gets its first ‘Studio M’ hotel
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Millennium & Copthorne Hotels Middle East and Africa (MEA) recently unveiled plans to launch its Studio M brand in Riyadh. This is being done in partnership with Saudi-owner Waseel Properties and developer Raseel Properties. The 145-key property is the first Studio M brand in the Middle East and is due to open in Q2 -2015.
The Studio M brand aims to address the growing and relatively untapped ‘Generation Y’ regional market segment. The brand also cater well for both corporate and leisure travellers.
Ali Hamad Lakhraim Alzaabi, president & CEO, Millennium & Copthorne Hotels MEA said: “In Riyadh, budget hotels account for just 10% of existing supply and only 1,000 rooms in the pipeline, compared to 7,000 for upscale to luxury segments. We see tremendous potential for a contemporary budget brand, given that this existing market segment is too often represented by independent properties of variable quality.”
The facilities on offer at the hotel include dedicated meeting facilities and an all-day dining concept called ‘At the M’ along with a swimming pool, gym, pool deck as well as a number of retail outlets.
Millennium & Copthorne has also identified a number of other prime locations in Abu Dhabi, Al Khobar and Jeddah for the budget brand and is already in negotiations for further sites in Doha and Dubai, both of which are at an advanced stage, completing the line-up for up to six properties signed and or launched by 2017.
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