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FinancialNews
09-05-23
Radisson Hotel Group to Expand Presence in Saudi Arabia with 100 Properties in Five Years
(MENAFN) The Radisson Hotel Group is planning to expand its presence in Saudi Arabia with a total of 100 properties in the next five years, according to Elie Younes, executive vice president and global chief development officer at the company. Speaking to Arab News at the Future Hospitality Summit in Riyadh, Younes said the planned expansion would help create more job opportunities in Saudi Arabia.
Currently, the Radisson Hotel Group has around 50 hotels in Saudi Arabia, with 25 hotels open and 25 hotels under construction. The company's plan for the next five years is to double that number, resulting in almost 100 hotels across the country. With each hotel having around 200 rooms, the expansion would create approximately 150 jobs per property, leading to a significant impact on the economy and job creation in Saudi Arabia.
Younes emphasized that the hotel group wishes to become part of the expansion story of Saudi Arabia's hospitality sector. He stated that the company has big plans for Saudi Arabia, given the country's transformation plans for its economy, its people, and the whole country. Saudi Arabia is going through a significant transformation, and the Radisson Hotel Group aims to transform itself with and in Saudi Arabia.
The travel and tourism sector in Saudi Arabia is offering immense investment opportunities, with the country's Vision 2030 plan aiming to develop the sector and increase its contribution to the economy. The Radisson Hotel Group's expansion plans in Saudi Arabia are in line with the country's vision and will contribute to its growth and development.
Overall, the Radisson Hotel Group's expansion plans in Saudi Arabia demonstrate the company's commitment to the country's growth and development. The planned expansion will not only benefit the hotel group but also contribute to job creation and economic growth in Saudi Arabia.
MENAFN09052023000045014228ID1106205810
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