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Al Hokair Group set to boost country’s SAR80 billion hospitality sector

Saudi Arabia, October 9, 2018

Al Hokair Group, one of Saudi Arabia’s most respected brand within the hospitality industry sector aims to further expand in 2019 to address the growing demand in the country. With several new themeparks and other entertainment destinations and the growing religious tourism market sector, the company plans to fast track its plans.

The Group currently works with several international Hotel chains that include Hilton, Holiday Inn, Radisson, Inter Continental Hotels Group, Accor International Hotels, Carlson Rezidor Hotel Group and Marriott Hotels Group among several others.

Expressing his strong confidence in the hospitality sector, Sami Al Hokair, Chairman of the Al Hokair Group stated that, “Our hospitality side of the business is rapidly growing, and we aim to consolidate our presence further in this SAR80 billion market place. We are seeing a tremendous growth in demand and based on the high occupancy rates in our hotels, we aim to further enhance our market presence. With the recent reforms, Saudi Arabia is poised to take a giant leap forward as it nurtures a vibrant leisure and entertainment sector. This growth needs to be supported by a strong ecosystem of next generation hotels”.

Saudi Arabia is currently in the midst of expanding its leisure tourism sector and expects 30 million visitors annually by 2030.

“With several themeparks and leisure destinations that are coming up in Saudi Arabia in the next few years, the requirement for quality hotel rooms will equally grow manifold. We strongly believe that there should be a great synergy between both the hospitality and entertainment industries. Due to an exponential increase in airport passengers, the country is expected to expand its hotel and resort inventory portfolio and we as a group are willing to play a vital role in this transformation,” stated Mishal Al Hokair, the Executive Vice President and General Manager of the Entertainment Sector at Al Hokair Group.

According to an industry report by Alpen Capital the expansion in the hospitality sector is also expected to grow to 541,000 rooms in 2022. Furthermore, a total of 27,281 rooms are expected to enter the market in 2018 alone.

Saudi Arabia has also recently announced a spectrum of leisure projects that includes Six Flags theme park in Riyadh by 2021 and a Red Sea resort which is backed by investment from Virgin Group founder Sir Richard Branson. Last year the country announced plans to turn 34,000 sq. km (13,127 sq. miles) of its Red Sea coastline into luxury resorts.

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