Monday 25 July 2016
 
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Arabia

Saudi hotels see occupancy, rates, decline in Q1

Saudi Arabia's hospitality sector continued to show signs of a slow down during Q1 2016 due to a sustained decline in oil prices and a slowing demand from the corporate sector. Nevertheless, new hotel establishments entered the market during

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KHC acquires 5.8pc stake in AccorHotels

Kingdom Holding Company (KHC), chaired by Saudi billionaire Prince Alwaleed, has acquired a 5.8 per cent share in AccorHotels following the completion of a $3.2 billion deal with a representative from the hotel group's board of directors.

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Brexit costs Saudi's Kingdom Holding $40m on hotel deal

Saudi Arabia's Kingdom Holding on Tuesday said it will lose SR150 million ($40 million) from its share-swap deal with AccorHotels due to foreign currency fluctuations caused by Brexit. The investment firm of billionaire Prince

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Swissôtel to open new hotel in Makkah

Swissôtel Hotels & Resorts has entered into an agreement with Sarah Towers For Real Estate Investment Company for a 1,624-room property in Makkah, Saudi Arabia. Becoming Swissôtel's second property in the relig

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Saudi Arabia posts $14.3bn tourism revenue

Saudi Arabia's tourism sector generated SR53.7 billion ($14.3 billion) in revenues this year, said a report stating official figures. The Saudi Commission for Tourism and National Heritage (SCTNH) unveiled that domestic and in

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Air Arabia launches new Georgia route

Air Arabia, the Middle East and North Africa’s largest budget carrier, touched down in Batumi, the second largest city of Georgia.   The airline operates two weekly flights to the famed Black Sea port city from its prima

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New F&B director at Kempinski Al Khobar

Kempinski Al Khobar, a leading hotel in the Saudi Arabian city, has appointed Giuseppe Soccio as the property's new director of food and beverage (F&B). With over of 13 years of experience in luxury hospitality, Soccio com

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AccorHotels opens new Novotel in Saudi Arabia

AccorHotels, a leading international hotel operator, has announced the opening of a new seaside Novotel in Yanbu, the Red Sea port city in the western province of Madinah, Saudi Arabia. With this latest addition, AccorHotels has a

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Radisson Blu to open two new Saudi hotels in Q4

Rezidor, one of the fastest growing hotel companies worldwide and part of the Carlson Rezidor Hotel Group, has announced plans for two new Radisson Blu hotels in Saudi Arabia. The group plans to open a 158-keys Radisson Blu Resort

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Saudi hotels to benefit from pilgrim rush

Saudi Arabia's hospitality sector is expected to perform significantly well this year with close to 7 million Umrah pilgrims anticipated to visit, The Ministry of Hajj and Umrah has announced. Hospitality experts and local tra

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