Apr 30 2012
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Hyatt signs agreement to operate 257-room hotel in Riyadh
Monday, Apr 30, 2012
Dubai Hyatt International has signed an agreement with Mohammad A. Al Swailem Co. for Commercial Investment to operate a 257-room hotel — Hyatt Regency Riyadh — which will be part of the 32-storey Al Swailem Tower.
The project is in advanced stages of development. It is expected to welcome its first guests by the last quarter of 2013.
Ali Al Swailem, chairman of Mohammed A. Al Swailem Co. for Commercial Investment, said, “Hyatt Regency Riyadh has been conceived to be a prestigious address for discerning business and leisure travellers to the capital and enjoys a prime location on Olaya Street. At the moment, we are witnessing remarkable growth in the hospitality industry.”
It is the investment company’s fifth hotel in Saudi Arabia in addition to several furnished apartments spread across the kingdom.
Peter Fulton, managing director of Hyatt International, said, “Saudi Arabia is a key development market for Hyatt International. Hyatt is well-positioned in the kingdom as one of the largest global hotel brands.”
Gulf News Report
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