Press release
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april 28, 2019 - Hyatt Hotels
Hyatt Plans to Double its Brand Footprint in the Kingdom of Saudi Arabia by 2023
Press release available only in original language.
Five new #hyatthotels to open as part of commitment to better diversify the country's economy
CHICAGO (APRIL 28, 2019) – #hyatthotels Corporation (NYSE: H) announced today that it expects the number of #hyatthotels in Saudi Arabia to double, with five additional Hyatt branded hotels to open by 2023, adding approximately 1,300 rooms to the region. The expansion includes the anticipated opening of Grand Hyatt Al Khobar, marking the first Grand Hyatt branded #hotel in the Kingdom, set to open in late 2019. The expected opening of Jabal Omar Hyatt Centric Makkah #hotel and Residences will mark the entry of the Hyatt Centric brand into the country. Additionally Hyatt Regency Jeddah Serafi Mall is slated for a 2021 opening and a dual-branded Hyatt Place and Hyatt House Riyadh/KAFD is slated for 2022.
“The Kingdom of Saudi Arabia is one of the fastest growing religious tourism markets in the world and one of Hyatt’s primary focus areas within the Middle East,” said Ludwig Bouldoukian, regional vice president of development, Middle East and North Africa for Hyatt. “Saudi Arabia continues to make significant strides in boosting tourism and infrastructure in a bid to diversify the economy. The ambitious expansion of Hyatt brands cement Hyatt’s brand presence, both amongst Gulf residents and the increasing number of international travelers visiting Saudi Arabia.”
Hyatt’s growth strategy is aligned with Saudi Arabia’s “Vision 2030,” which focuses on increasing tourism and the Kingdom’s economy. The anticipated new properties reinforce Hyatt’s ongoing commitment to developing its brand pipeline, with the current portfolio consisting of Park Hyatt Jeddah, Jabal Omar Hyatt Regency Makkah, Hyatt Regency Riyadh Olaya, Hyatt Place Riyadh Al Sulaimania and Hyatt House Jeddah Sari Street.
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