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Hotel investors ramp up investment efforts in Saudi Arabia for religious tourists

Excerpt from HotelNewsNow

Sep 21, 2012 2:25 pm

Skift Take

In a tightly regulated market like Saudi Arabia, whatever the govt. decides happens. It is ramping up modernization efforts for pilgrims and tourists, and hence this spate of hotel investment,

— Rafat Ali

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Muslim tourists to the Kingdom are expected to grow annually between 6% and 8% over the next two to three years, reaching more than16 million tourists.

Hotel developers are working furiously to keep pace. Christie + Co. counts some 13,000 branded rooms among 30 new properties scheduled to open by 2015.

Headlining hotel development is the Jabal Omar Development Company’s 26-hotel, multiphase project being built on 24 million square feet of land.

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