HMH - Hospitality Management Holdings has signed
a franchise agreement for a new property in Riyadh, Saudi Arabia.
Expected to open in Q3 2014, Coral Riyadh
Al Dhabab Hotel is in the final stages of development and joins
Coral Riyadh Suliemaniah Hotel, Coral Al Khobar Hotel, Coral
Jubail Hotel and Coral Al Ahsa Hotel in the Kingdom.
Boasting 114 rooms and suites, Coral Riyadh Al
Dhabab Hotel will offer guests an all-day-dining restaurant, lobby lounge,
three meeting rooms, indoor swimming pool, jacuzzi, Moroccan bath,
sauna, two massage rooms and a gymnasium.
occupies a prime location in the heart of the city on Prince
Faisal bin Turki Street just opposite Arab National Bank
headquarter within minutes from the ministries district and
Chamber of Commerce. In close proximity are Olaya Street and King
Mr Laurent A. Voivenel, CEO, HMH, said, "It
gives us great pleasure to welcome Coral Riyadh Al Dhabab Hotel
into our group as we continue to pursue our strategic expansion.
Being the political and commercial capital of KSA, Riyadh is an
extremely dynamic destination attracting both domestic and
international travellers. If all projects in its active pipeline
are completed, the city will more than double its number of hotel
According to the latest figures, Riyadh's total active hotel
development pipeline consists of 5,804 rooms making it one of the
most lucrative markets for growth in the Middle East. The real
opportunity for the hospitality industry comes from the growing
domestic tourism market that aims to get a share of 8.2 million Saudi
residents who currently travel abroad each year. The Saudi
Commission for Tourism and Antiquities (SCTA) forecasts that
domestic tourism will grow to a staggering 128 million trips and
640 million nights by 2019 growing from 32 million domestic
tourism trips and 199 million nights in 2009. Government
estimations expect that the Saudi internal tourism expenditures
may reach up to SAR 100 billion by the 2020.
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