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Marriott International Reinforces Its Commitment To Vision 2030 At First Saudi Arabia Hotel Investment Conference

February 28, 2018 Conferences No Comments Email Email

The world’s leading hotel company, Marriott International, today reiterated its commitment to Saudi Vision 2030 at the inaugural Saudi Arabia Hotel Investment Conference (SHIC) 2018. http://www.tourismthailand.org/landing/landing_en.htmlWith more than four decades of presence in the country, Saudi Arabia today, is the company’s second largest market in the Middle East with 23 operating hotels. Marriott International continues to nurture a robust pipeline with number of hotels set to more than double in the Kingdom.

Under the theme of ‘Focus on the Future,’ the Saudi Arabia Hotel Investment Conference (SHIC) 2018 is taking place under the patronage of His Royal Highness Prince Sultan bin Salman bin Abdulaziz Al Saud, President, Saudi Commission for Tourism & National Heritage at Marriott Convention Center, Riyadh Marriott Hotel.

Marriott International’s future growth strategy is testament to the Kingdom’s vision to achieve a thriving economy, vibrant society and an ambitious nation largely achieved by the raising of non-oil revenue to $160 billion by 2020 up from $43.5 billion last year. Travel & Tourism will play a crucial role in boosting this revenue and strengthening the economy. During SHIC 2018, Alex Kyriakidis, President and Managing Director, Middle East and Africa, Marriott International will join Dr Badr Al Badr Chief Executive Officer, DUR Hospitality, and other hospitality leaders to discuss Marriott International’s strategic support in realizing Saudi Vision 2030.

Speaking on the occasion, Alex Kyriakidis said, “The Saudi Vison 2030 makes it a very exciting time for those working in, or hoping to work in the Travel & Tourism industry in the Kingdom. The renewed focus and investment in the sector opens up a wealth of opportunity for Saudi nationals. Following a successful 40 years in the Kingdom of Saudi Arabia, we remain committed to our continued support towards growth of the tourism sector. Our Saudi Arabia growth plan along with the implementation of our programs that aim to foster local talent underpins this collaborative approach.”

Marriott International recently rolled out its very successful ‘Tahseen’ program, a unique hospitality management development plan focused on fast tracking the next generation of Saudi leaders providing them a springboard to launch successful careers within the hospitality industry. The students get full exposure to the business of running a hotel resulting in a managerial opportunity. Graduates experience six months of cross-exposure to all departments and 6 to 12 months of departmental specialization. The program is run in partnership with Cornell University and 32 participants were selected into the inaugural batch in September 2017.

“The Kingdom of Saudi Arabia has the second largest number of hotel rooms under construction in the Middle East and Africa region. The first Saudi Arabia Hotel Investment Conference is validation of the progress the Kingdom is making in regards to hospitality and highlights the country’s focus on this important sector,” Kyriakidis concluded.

Marriott International operates 9 brands in Saudi Arabia including Aloft, Courtyard by Marriott, Four Points by Sheraton, Le Méridien, Marriott Executive Apartments, Marriott Hotels, Residence Inn, The Ritz-Carlton and Sheraton. The company will debut 3 new brands including Autograph Collection, Westin and Element while consolidating its existing portfolio of brands in the country.

Marriott International is the largest international operator in Middle East and Africa. The Hotel giant has a strong footprint of 23 operating hotels and more than 6700 rooms in Saudi Arabia with a robust pipeline of 29 hotels and over 5700 rooms in the Kingdom. The company has presence in 9 cities across the country. Riyadh remains the largest market for the company in the country with 8 operating hotels and 15 in the pipeline. The company will also enter Unaizah, King Abdullah Economic City, Half Moon Bay, Yanbu and Jubail and will open its largest hotel in the country, Four Points by Sheraton Makkah Al Naseem with 1172 rooms in 2018 further giving an impetus to religious travel.

Note on Forward-Looking Statements: This news release contains “forward-looking statements” within the meaning of federal securities laws, including the number of lodging properties the company may add in future years and similar statements concerning possible future events or expectations that are not historical facts.  We caution you that these statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including changes in market conditions; changes in global and regional economies; supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; the availability of capital to finance hotel growth and refurbishment; and other risk factors that the company identifies in its most recent quarterly report on Form 10-Q or annual report on Form 10-K; any of which could cause actual results to differ materially from the expectations we express or imply here.  We make these statements as of the date of this press release, and we assume no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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