Mariott News first on FIR:
Anticipated new hotels include the debut of Renaissance Hotels in the Kingdom,
the world’s largest Aloft Hotel, and a Courtyard by Marriott in Makkah
Marriott International, Inc. (NASDAQ: MAR) today announced it has signed an agreement with Al Saedan Group, a leading real estate company in the Middle East, to open three hotels across Saudi Arabia. The multi-project agreement includes the country and territory’s first Renaissance Hotel, the world’s largest Aloft Hotel and a Courtyard by Marriott in the Holy City of Makkah. All three properties are projected to open by 2025.
“We are pleased to build on our fantastic relationship with Al Saedan Group and further expand our portfolio across Saudi Arabia with these milestone signings,” said Satya Anand, President for Europe, Middle East & Africa, Marriott International. “These agreements underscore Marriott International’s commitment to supporting the growth of the Kingdom’s tourism sector and reinforces the continued demand we are seeing for our portfolio of brands across the country.”
“As a company, we are focused on developing projects that support the growth and development of the Kingdom,” said Sultan Al Khudair, CEO of Al Saedan Group. “We are excited to collaborate with Marriott International to open two new properties in the Holy City which will be ideal destinations for those visiting for Umrah and Haj, and to debut Renaissance Hotels in the country. These three new agreements were signed in line with our commitment to bring the highest standards of quality and design to our assets and to provide a premium experience to our guests.”
Renaissance Riyadh Hotel
Renaissance Hotels is expected to make its debut in Saudi Arabia with the opening of Renaissance Riyadh Hotel. Situated in the business hub of the King Abdullah Financial District and within close proximity to Riyadh International Airport, Renaissance Riyadh Hotel is expected to feature 266 thoughtfully designed suites, three food and beverage outlets and leisure facilities such as a spa, pool and fitness center. The hotel is slated to introduce the brand’s unique positioning which connects travellers to the spirit of its local neighborhood through unexpected design, entertaining evening rituals and engaging Navigators, the brand’s neighborhood ambassadors.
Aloft Makkah Taysir
Aloft Makkah Taysir, which will be situated in the Holy City of Makkah, is anticipated to be the brand’s largest hotel in the world with plans for 1,000 guest rooms. Located in the Taysir district and close to the Grand Mosque entrance, the hotel will be ideally located for guests visiting on pilgrimage. Aloft Makkah Taysir is slated to feature the brand’s innovative use of technology and design to enhance the guest experience as well as signature Aloft amenities including the Re:mix Lounge; Re:fuel® by Aloft, offering a 24/7 grab-and-go gourmet menu; and Re:charge, Aloft’s 24-hour fitness center.
Courtyard by Marriott Makkah Kudai
Marriott International continues to further expand the footprint of Courtyard by Marriott in Saudi Arabia with the signing of Courtyard by Marriott Makkah Kudai. Slated to offer the brand’s timeless, classic style with inviting, flexible spaces and service that is above and beyond expectations, the hotel has plans for 438 spacious guest rooms, its signature Grab n’ Go market and a fitness center. Courtyard by Marriott Makkah Kudai will be situated 2 kilometres from the Grand Mosque entrance.
Marriott International’s portfolio in Saudi Arabia currently consists of over 30 properties with more than 9,000 rooms across ten brands and nine cities.
Note on forward-looking statements: This press release contains “forward-looking statements” within the meaning of U.S. federal securities laws, including expected hotel openings and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including those we identify below and other risk factors that we identify in our U.S. Securities and Exchange Commission filings, including our most recent Annual Report on Form 10-K. Risks that could affect forward-looking statements in this press release include the duration and scope of COVID-19, including the availability and distribution of effective vaccines or treatments; its short and longer-term impact on the demand for travel, transient and group business, and levels of consumer confidence; actions governments, businesses and individuals have taken or may take in response to the pandemic, including limiting or banning travel and/or in-person gatherings or imposing occupancy or other restrictions on lodging or other facilities; the impact of the pandemic and actions taken in response to the pandemic on global and regional economies, travel, and economic activity, including the duration and magnitude of COVID-19’s impact on unemployment rates and consumer discretionary spending; the ability of our owners and franchisees to successfully navigate the impacts of COVID-19; the pace of recovery when the pandemic subsides or effective treatments or vaccines become widely available; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the effects of steps we and our property owners and franchisees have taken and may continue to take to reduce operating costs and/or enhance certain health and cleanliness protocols at our hotels; the impacts of our employee furloughs and reduced work week schedules; our voluntary transition program and our other restructuring activities; competitive conditions in the lodging industry; relationships with customers and property owners; and the availability of capital to finance hotel growth and refurbishment. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release. We make these forward-looking statements as of the date of this press release, and undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 7,600 properties under 30 leading brands spanning 133 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy™, its highly-awarded travel program. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.
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