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10-05-23
Rotana Announces Five Partnerships with Memar to Expand its Hospitality Portfolio in Saudi Arabia
(MENAFN) Rotana, a leading hotel group, has announced five partnerships with real estate development company Memar to expand its hospitality portfolio in Saudi Arabia. Guy Hutchinson, CEO of Rotana, revealed the additional rooms in Riyadh will increase Rotana's portfolio by 618 keys. The company's goal is to reach 6,000 rooms over the following four years as it operates across the Kingdom. Hutchinson stated that the projects are in various stages of completion, with one being an existing property that they will almost instantly take over.
The other four hotels are under construction and will come into play at different points in time. The first three or four hotels will be available within 15 to 18 months. Four of the hotels will be under the "Edge by Rotana" brand, while "Rayhaan by Rotana" will be the fifth. According to Hutchinson, the Rayhaan is a four-star property that is a little bit more upscale, with banqueting facilities for weddings and events. In contrast, the Edge properties are more contemporary and interesting, catering to the corporate traveler and weekend visitors to Riyadh.
Rotana's partnership with Memar reflects the growing importance of the hospitality industry in Saudi Arabia, as the Kingdom aims to diversify its economy and increase its tourism sector. The expansion of Rotana's hospitality portfolio in Riyadh is part of its overall goal to reach 6,000 rooms over the following four years. With four hotels under the Edge brand and a fifth under the Rayhaan brand, Rotana is catering to different segments of the market, from business travelers to leisure visitors. As the projects are in various stages of completion, Rotana's presence in Riyadh is set to grow significantly in the coming months, reflecting the Kingdom's increasing importance in the hospitality industry.
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