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Mohammed A. Al-Swailem Co. for Commercial
Investment has signed a management agreement with Hyatt
International for a new hotel in the Kingdom of Saudi Arabia.
The 257-room Hyatt Regency Riyadh is part of Al-Swailem
Tower comprising of upscale shopping arcade and commercial
complex. Owned by Mohammed A. Al-Swailem Co. for Commercial
Investment, the 32-storey project is spread in an area of 7000 m2
with total built-up area of 5300 m2 and is in advanced stages of
development. The hotel is expected to welcome its first guests by
the last quarter of 2013.
Eng. Ali Al Swailem, Chairman, Mohammed A. Al-Swailem
Co. for Commercial Investment said, “Hyatt Regency Riyadh has been conceived to be a prestigious address for discerning business
and leisure travellers to the capital and enjoys a prime location
on Olaya street. It is a very significant project for us. We are
pleased to work with Hyatt International on this exciting new
development and look forward to collaborating with them. At the
moment we are witnessing remarkable growth in the hospitality
industry especially with the generous support given to tourism by
His Royal Highness Prince Sultan bin Salman bin Abdul Aziz,
President of Saudi Commission for Tourism and Antiquities. This
requires meeting the needs of the Saudi hotel sector in accordance
with the best international standards which are fully met by Hyatt
Regency Riyadh in both quality of project and level of service and
luxury offered.”
It is the fifth hotel in Saudi Arabia
under the ownership of Mohammed A. Al-Swailem Co. for Commercial
Investment in addition to several furnished apartments spread
across KSA.
Located 30 minutes
from King Khaled International Airport in Riyadh, Hyatt Regency
Riyadh offers easy access to key business and leisure attractions
in the city. The hotel will feature a speciality restaurant, fully-equipped health centre including
swimming pool, massage, sauna, Jacuzzi and gym, state-of-the-art
business centre and meeting rooms, a multi-function hall
for 300 people, tennis court, car park for 300 cars as well as a
shaded VIP car park for 30 cars.
Riyadh is an important
business destination and a high potential market for hotel
development. The Saudi Commission for Tourism and Antiquities
(SCTA) estimates that tourism revenues in the Kingdom will reach a
total of SR118 billion (US$31.5 billion) in 2015, and SR232
billion (US$61.9 billion) in 2020 making the Kingdom a fertile
ground for any new hotel development.
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