Complex Made Simple

Saudi Arabia to witness SAR144 billion in hotel investments in 2020

“Many of these will be international chains and will provide high-quality service”

The Saudi Commission for Tourism and Antiquities forecasts the establishment of a number of different hotels with an estimated investment of SAR144 billion by 2020.

The Commission says many of these hotels will be international hotel chains and will provide high-quality service, reports UAE-based Aliqtisadi.

It also expects the kingdom to witness a boom in the field of hotel facilities and projects during the next two years, driven by the development of Saudi cities and the increasing annual growth of local tourism.

The Saudi commission explains that the total hotel projects under construction in Makkah exceed 100 towers, and a number of those hotels are nearing completion, indicating that they will add more than 24,500 hotel rooms. Also, investments in hotel projects that will launch in the next two years in the Holy Capital amounts to SAR18.3bn.

It adds that during the next two years, the city of Riyadh will witness the entrance of a number of world-class hotels, who have already begun the establishment of their hotels in the city, which will also see the establishment of 70 hotels during the next two years, with more than 8,180 rooms and investments up to SAR16bn.

(SAR1 = AED0.98 at the time of publishing)