Hospitality Management Holdings will be present in the Saudi capital to take part in Riyadh Travel Fair from 14th to 17th April, 2015. Seventh year in running, the exhibition is considered to be one of the largest tourism events in Saudi Arabia attracting leading international and regional travel and tourism companies.
According to industry reports Saudi Arabia is expected to be the source of the third largest group of outbound travellers over 2015-2018. Domestic tourism in Saudi Arabia is growing too and soared by 25 per cent in 2013, according to the Saudi Commission for Tourism and Antiquities. Tourism contributed SR75bn to the kingdom’s gross domestic product (GDP), accounting for nearly 3 per cent of the total, making it one of the most important industries for the country. Twenty-five airports are being upgraded, expanded or built and two new airlines have been given approval to start domestic services to help cope with the significant rise in demand.
HMH CEO Laurent A. Voivenel said, “Saudi Arabia is a land of opportunity both in terms of domestic and outbound tourism and at HMH we are eager to grow our share of the market. Riyadh Travel Fair offers a unique opportunity to meet more than 20,000 travel trade professionals and buyers. We will be present at the Riyadh Travel Fair to showcase and promote all our existing and upcoming properties”.
The tourism sector in Saudi Arabia heavily relies on international arrivals; inbound tourism expenditure reached SAR58.5 billion (US$15.6 billion) in 2013, compared to SAR41.6 billion (US$11.1 billion) from domestic travel in the same year. Increasing domestic and international tourist volumes are driving demand for quality accommodations in the country. Therefore, Saudi Arabia, has seen a massive increase in investment in the hotel market. Riyadh, Jeddah and Medina are the hubs of hotel investment in the country due to the high demand in the cities. A key player in the industry is HMH having entered the country with Coral Al Khobar Hotel eight years ago followed by expansion in Riyadh, Jubail, Al Ahsa and most recently Madina.
Laurent A. Voivenel-CEO HMH
Laurent stressed, “Being a halal-friendly, alcohol-free international chain of hotels, HMH is the ideal choice for any hotel owner or investor with the same philosophy and principles. For us being halal-friendly is not simply a business decision but is part of our culture and DNA. Saudi Arabia is central to our expansion strategy and is a key growth market for us. And events such as Riyadh Travel Fair allow us to explore opportunities while building our network within the industry.”