Saudi Arabia represents 50% of Radisson Blu projects in GCC: Exe

Elie Milky, Vice President for Development at Radisson Hotel Group

Elie Milky, Vice President for Development at Radisson Hotel Group, said Saudi Arabia is a key investment destination for the group, representing 50% of its regional projects.

On the sidelines of the Future of Hospitality Summit, Milky told Argaam that the group plans to boost its business in Saudi Arabia, expecting the Kingdom to represent 70% of its projects over the next three years.

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He added that the group currently operates 50 hotels, resorts, and hotel apartments in Saudi Arabia, 30 of which are in operation and 20 under construction. The group aims to open them within the next three years.

The hotel operator focuses on major cities such as Riyadh, Jeddah, Madinah, and Makkah, in addition to small cities such as Hafar Al-Batin and Hail.

It also targets 100 hotels, or 20,000 rooms, in Saudi Arabia by 2030.

Radisson Blu hotels in Saudi Arabia record average occupancy rates of up to 65%, with Riyadh, Madinah and Makkah being most in-demand cities, especially during the past two years.

The group works as a hotel manager in Saudi Arabia, signing contracts with investors to manage and operate their hotels, Milky said. He noted that Radisson Blu opened a new regional office in Riyadh to strengthen its presence in Saudi Arabia.