SHIC survey reveals potentially lucrative results

The post-event survey has revealed 21% of attendees disclosed that deals of more than US$1 million were discussed

Millennium Hotels & Resorts Middle East signed its first Millennium Central property in the Kingdom of Saudi Arabia during SHIC
Millennium Hotels & Resorts Middle East signed its first Millennium Central property in the Kingdom of Saudi Arabia during SHIC

Following the Saudi Arabia Hospitality Investment Conference (SHIC) last month in Riyadh, its post-event survey has revealed 21% of attendees disclosed that potential deals of more than US$1 million were discussed.

The survey also highlighted that 44% of attendees left with more than $100,000 worth of business opportunities, along with 92% surveyed saying they’d likely attend the following year. In its third year, the event reported that 97% of attendees found the event valuable in developing business.

During the event, a host of announcements were made, many of them focusing on the growing leisure tourism market in the Kingdom.

Marriott International signed a deal to open MENA’s first Fairfield by Marriott Hotel in Makkah, Saudi Arabia. The deal was signed with religious hospitality firm Nahdet Al-Mashaer; it will see the world’s largest Fairfield-branded property open, comprising 2,600 rooms.

Millennium Hotels & Resorts Middle East signed its first Millennium Central property in the Kingdom of Saudi Arabia during SHIC. Following the opening of the first Millennium Central hotel in Downtown Dubai six months ago, Millennium Central Jeddah will mark the brand’s debut in the Kingdom of Saudi Arabia and is the fourth hotel in the Millennium Central brand portfolio.

Hospitality group InterContinental Hotels Group (IHG) said at SHIC it will be launching two properties in Saudi Arabia. The group signed a management agreement for InterContinental Dammam in partnership with Salem Mohammed Al Qahtani and one for Holiday Inn Riyadh Al Malaz in partnership with Saleh Alsalamah and Partner Companies.

Finally Hilton announced at the event it plans to “quadruple its portfolio” in KSA in the first half of the decade.

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