Millennium plans 20 new hotels in Saudi
Riyadh, March 25, 2014
Millennium and Copthorne Middle East and Africa (MEA) will open 20 new hotels in Saudi Arabia, with plans to operate 50 properties across the region by 2017, a report said.
New hotels in Makkah, Madinah, Riyadh, Jeddah, Hail, Jazan, Tabuk and Baha will offer more than 7,000 rooms, added the report in Arab News.
“The market opportunity within the Kingdom has increased through growing domestic travel, a short supply of midscale hotels, five-star hotels in second-tier cities, especially for corporate travelers and the significant and sustained growth of religious tourism,” Ali Hamad Lakhraim Alzaabi, president and CEO, Millennium and Copthorne Middle East, was quoted as saying in the report.
The hotel group also plans to set up an office in one of the major Saudi cities. The growth plan will be headed by Mostafa Tantawi, who has joined the group as vice president, operations, Saudi Arabia, the report said.
“In what has proved to be a highly successful year for Millennium and Copthorne properties throughout the Mena region, the hotel group witnessed impressive growth across all of its Middle East portfolio, which returned a 23.3 per cent increase in total revenue and a 34.1 per cent increase in gross operating profit compared with 2012,” the report quoted Alzaabi.