Saudi Arabia’s rapid growth in the global tourism sector, driven by major development projects, creates unique investment opportunities, especially in emerging cities. The country is expected to command 58% of the Middle East and North Africa (MENA) hotel supply by 2028, according to a report by JLL.
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The new hotels include Fairmont Red Sea, opening in 2025, Fairmont Ajdan Al Khobar in 2027, and Fairmont Rua Madinah in 2028.
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The projects include Jumeirah Asora Bay and Jumeirah Residences Emirates Towers, strengthening Jumeirah’s focus on branded residences.
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IHG Hotels & Resorts announced its first Middle East EVEN Hotel in Dammam, Saudi Arabia. The 300-room hotel is set to open in January 2029 in collaboration with Marassi Al Bahr Development Company.
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Weekly Hotel Industry Asia Pacific News Roundup from HVS
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Stephanie Ricca of CoStar reports from the recent Americas Lodging Investment Summit CALA conference that despite the inherent uncertainties in Latin America and the Caribbean, global hotel brand leaders are optimistic about long-term growth opportunities in the region. They are banking on strong intra-regional travel and reliable local financing partners.
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The first Hotel Management Agreement under this partnership has been signed for a property in Luang Prabang, Laos, marking the beginning of RJJ Hotels’ operations in Southeast Asia.
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A partnership between IHG Hotels & Resorts and Ashaad Company will see the development of three new hotels in Saudi Arabia, adding 1700 rooms to the country’s hospitality sector.
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The luxury hotel, developed in partnership with Krivish Hospitality Private Limited, will be situated on an 11.5-acre site in Indore, Madhya Pradesh.
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Nassau Airport Development Company (NAD) has reissued a Request for Expression of Interest for the development of a hotel at Lynden Pindling International Airport. The company aims to meet increasing demand in the tourism sector and contribute to a broader development plan.
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