Al Hokair Group eyes expansion in Saudi hospitality sector

Saudi Arabia's Al Hokair Group is planning to strengthen its foothold in the Kingdom's booming hospitality sector next year, the company said in a statement.

"Our hospitality side of the business is rapidly growing, and we aim to consolidate our presence further in this SAR 80 billion marketplace," said Sami Al Hokair, chairman, Al Hokair Group.

"We are seeing a tremendous growth in demand and based on the high occupancy rates in our hotels, and we aim to further enhance our market presence.”

The requirement for quality hotel rooms will equally grow manifold due to several theme parks and leisure destinations coming up in the next few years, the chairman noted.

Mishal Al Hokair, executive vice president and general manager of the entertainment sector, Al Hokair Group, said that the company is willing to play a vital role as the Kingdom is expected to expand its hotel and resort inventory portfolio, driven by the exponential increase in airport passengers.

Currently, the group works with several international hotel chains such as Hilton, Holiday Inn, Radisson, InterContinental Hotels Group, Accor International Hotels, Carlson Rezidor Hotel Group and Marriott Hotels Group.

Saudi Arabia is in the midst of expanding its leisure tourism sector and expects 30 million visitors annually by 2030.  Consultancy firm Alpen Capital said in a recent report that the Kingdom's hospitality sector will have 541,000 rooms in 2022 with 27,281 rooms expected to enter the market this year alone.