Hyatt Signs Regency Hotel in Riyadh

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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