The Rezidor Hotel Group, a member of the Carlson Rezidor Hotel Group, has signed its 10th property in Saudi Arabia - Park Inn by Radisson Jeddah.
The 350-key hotel is scheduled to open in quarter four of 2014, bringing the group's Saudi Arabia portfolio to 2400 rooms in operation and development.
"Saudi Arabia is a key development market for Rezidor. The country experiences continuous economic growth amid regional turmoil and global economic tremors. Its strong domestic market, its important religious sites in addition to a strong real estate sector and a healthy hospitality market, call for a strong hotel presence,” said Kurt Ritter, president and CEO of Rezidor.
Speaking on behalf of Olayan Real Estate Company - the owner and developer of the Park Inn Jeddah and the real estate arm of The Olayan Group, Abdulrahman Al Binali added: "We're pleased to be working with Rezidor on this exciting new development in Jeddah, and look forward to a continued relationship and future projects, including a possible new hotel in Riyadh for which we're already signed an MOU."
The new Park Inn by Radisson on Al Madinah Road will feature 250 rooms and 100 serviced.
It will have two restaurants and a lounge, 500sq m of meeting space, a fitness centre with outdoor swimming pool and a business centre.
Jeddah's international airport is a short drive away and the holy cities of Makkah (65km) and Madinah (330km) are also within easy reach.
Elie Younes, vice president of business development for MENA at Rezidor added, ''We are committed to growth in Saudi Arabia and to further contribute to its tourism industry. We are thrilled to partner with Olayan, a group known for its great ability to plan and successfully execute projects and we are looking at working together across the Kingdom in the future''.