Riyadh, Saudi Arabia – 28 March 2016 – Organised by the Saudi Commission for Tourism & National Heritage (SCTH) and Dur Hospitality, The Hotel Investment Conference, was held on the 28th of March at the side lines of the Saudi Travel & Tourism Investment Market (STTIM), in partnership with the Arabian Hotel Investment Conference (AHIC) at the Ritz Carlton Riyadh.
HRH Prince Sultan bin Salman bin Abdulaziz Al-Saud, President and Chairman of the Board of the Saudi Commission for Tourism and National Heritage (SCTH), and HRH Faisal bin Bandar governor of Riyadh, recognised Dur Hospitality for sponsoring the hotel investment conference, a part of the ninth edition of the Saudi Travel and Tourism Investment Market (STTIM 2016), where Major tourism investment discussions took place exploring diversified subjects addressed by industry leaders from around the world. Supported by the Arabian Hotel Investment Conference, this conference was the last part of a series of briefings that have been held in Bahrain, Qatar, Egypt and also in Jeddah ahead of the main conference in Dubai 26-28 April.
Key industry leaders gathered at The Hotel Investment Conference, which kicked off by the opening speech of Dr. Salah Al Bakheet, Vice President of SCTH for Investment and Tourism Development followed by Mark Watts, Editor in MEED gave an economic outlook focusing particularly on the Saudi Arabian Transformation Programme and the implications this has on the investment sector for tourism.
A lively discussion on investment opportunities and issues for budget hotels and serviced apartments was moderated by Chiheb Ben Mahmoud, Executive Vice President and Head of Hotels and Hospitality for MEA JLL and involved four leaders from the Saudi hotel industry, Hussain Al Rakhis, Director of Business Development for Action Hotels; Yousif al Eid, Vice President of Investment and Development at Dur Hospitality; Dr. Costas Verginis, Senior Director of Lodging Development for Marriott International and Mark Shea, Head of Hospitality Middle East at Faithful and Gould.
Dialogue on Saudi Arabian hotel brands and the importance of their growth and support was then followed by a frank discussion on the financing of tourist facilities and the growth of infrastructure in smaller towns in Saudi Arabia.
Filippo Sona, Head of Hotels MENA Region, Colliers International presented market research specifically for Riyadh including hotel performance forecasts for the year ahead including an increase in branded hotel supply from 9,041 keys in Riyadh in 2016 to 15,755 keys in 2018.
Dr. Badr Al Badr, CEO, Dur Hospitality said :“As a Hospitality Leading developer and operator, Dur Hospitality’s core business revolves around establishing partnerships and we are here to enhance Public Private Partnerships between SCTH and the other operating companies, to highlight the latest trends in the hospitality sector, and knowledge transfer between key industry leaders and specialists, explore business opportunities, and execute local and regional projects,”
“We were delighted to be able to hold the briefing concurrently with the Hotel Investment Conference after hosting an event in Jeddah earlier in the year. The series of briefings we’ve held across the regional bring together experts and provide an unrivalled platform to share insights for all hospitality stakeholders” said Jennifer Pettinger-Haines, Managing Director Middle East of Bench Events. She added: “The briefings have been a great build up to AHIC which is taking place 26-28 April in Dubai and affords the industry an opportunity to come together from across the region”.
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Notes to Editors
About Dur Hospitality
Dur Hospitality, (Saudi Hotels and Resorts Co.-Hotels Previously) the most prestigious Hospitality Saudi company; has been publicly listed and trading on the Saudi stock market since 1976.
Dur Hospitality owns develops and manages a broad range of tourism and residential properties across The Kingdom. In 2014, Dur announced it will invest SAR 1.5 billion to achieve a planned portfolio of 20 hotels and 6 residential properties by 2023.
Dur Hospitality sets an exemplar for successful hospitality development through presenting genuine hospitality services to become the perfect partner to any local, regional or international party.
This concept was reflected through its partnership with Marriott International & Intercontinental Hotels Group.
Dur Hospitality has also contributed to the development of “Holy cities specialized hospitality”, through its own Brand “Makarem” that was recently re-launched with a new identity. Makarem Hotel announced operating 10 new hotels in the coming 5 years in the Holy cities of Makkah and Madinah.
Sponsors of AHIC 2016 are: Al Murjan Island, Carlson Rezidor Hotel Group, Jumeirah Group and Katara Hospitality as Platinum Sponsors; AccorHotels, Dur Hospitality, Emaar Hospitality Group, Hilton Worldwide, IFA Hotel Investments, IHG (InterContinental Hotels Group), Marriott International, SMIT Morocco, Starwood Hotels & Resorts Worldwide Inc, Wyndham Hotel Group adn YAS Marina Circuit as Emerald Sponsors; AECOM, Bahrain Economic Development Board, Berwin Leighton Paisner LLP, Centara Hospitality International, Colliers MENA, Deloitte, ERC (Egyptian Resorts Company), ESPA, Faithful + Gould, FRHI - Hotels & Resorts, HVS, JLL, Mashreq Bank, Melia Hotels International, PwC, Roya, Egyptian Resorts Company, Shaza Hotels and STR Global as Gold Sponsors.
About Bench Events
Bench Events has a long track record of delivering, with its partners, the premier hotel investment events across Europe, the Middle East and Africa. Bench Events’ Chairman, Jonathan Worsley, was one of the founders of the highly successful International Hotel Investment Forum which is now in its nineteenth year (www.berlinconference.com). In 2005, he was responsible for launching the Arabian Hotel Investment Conference in Dubai (www.arabianconference.com); and in 2008 launched the Russia & CIS Hotel Investment Conference (www.russia-cisconference.com). In 2011 Bench Events added two events to its portfolio, co-hosting the Turkey & Neighbours Hotel Investment Conference (www.cathic.com) and the Africa Hotel Investment Forum founded in 2013 (www.africa-conference.com). In 2014 Bench Events launched the Global Restaurant Investment Forum (www.restaurant-invest.com) in Dubai to great acclaim.
Bench Events recently supported the Ethiopian charity www.artistsforcharity.org raising enough funds to help them complete their goal of putting a children’s playground in Addis Ababa’s largest hospital.
About MEED
For 50 years business leaders have been relying on MEED (Middle East Economic Digest) to give them a wealth of factual, unbiased business information that they need to be successful. The MEED brand represents an unrivalled portfolio of high calibre business information products, online services and premier networking events. MEED Conferences is part of the leading information brand in the Middle East working to provide delegates with the very latest business sensitive information. Over the past 12 years, MEED Conferences has organised events attended by senior government officials and thousands of international business people. The conference series is aimed at companies actively seeking business in the markets of the Middle East. MEED is well established as the source of strategic and accurate regional information placing it in a unique position to bring together high-calibre speakers. www.meed.com.
