As Burj Rafal prepares ground for Kempinski, one of the most renowned luxurious European hotels in the world

155 new hotels will be launched in the coming two years in Saudi Arabia

Riyadh's share is 20 percent

Riyadh­­- 23 December 2013

Economic reports have revealed that the hospitality sector in the Kingdom of Saudi Arabia is growing at an annual rate exceeding 8.5 percent, and 155 new hotels (five, four and three-stars levels) are expected to enter the Saudi market during the year 2014-2015.

The latest statistics showed that the number of hotel rooms in the Kingdom currently exceeds 24,000 rooms in various categories and there are around 55 hotels in Riyadh City as per the Supreme Commission for Tourism and Antiquities, 15 of which are on the five stars level, and Riyadh owns 20% of the Saudi hospitality market share.

Mr. Stephan Kaminski, the appointed pre-operation General Manager, Burj Rafal Hotel Kempinski, Riyadh commented " The hotel industry in Saudi Arabia is growing at a positive pace, and the volume of investment in this sector is one of the most important financial resources for investors due to the geographical expansion and the economic stability witnessed in the Kingdom which creates a safe haven for investment in the region, in addition to the high occupancy rates which reach 100 percent during specific periods of the year in Riyadh, and up to 75 percent throughout the year as an average rate. "

Stephan Kaminski added " The hotel industry in the Kingdom and the positive development in the sector urged RAFAL, the premier residential communities' innovator, to appoint Kempinski Hotels, one of the most renowned luxurious European Hotels in the world, to operate the hotel at the Burj RAFAL community and launch the Burj RAFAL Hotel Kempinski, Riyadh, which is set to open early 2014. "

Burj Rafal Hotel Kempinski, Riyadh lies gracefully on 23 floors of 70 at the glorious "Burj Rafal community, Guests can choose from 350 luxury grandly guest rooms, suites and serviced apartments, two restaurants, three cafés, conference facilities, ballroom for up to 2000 guests, two spas and wellness centers for men and women. Attached and connected to the hotel will be a boulevard of selected boutiques, extending an elegant lifestyle to this unique community, a place to see and be seen. "

Kaminski said, "Burj Rafal Hotel Kempinski, Riyadh keenness on enriching the lifestyle offered at the Burj Rafal community made it extend the delivery service offered at the hotel to the residents of the apartments in the tower, to offer a sense of refined luxury."

Kaminski continued " Burj RAFAL Hotel Kempinski, Riyadh will take the Luxurious Hotel industry in Riyadh to a new level allowing guests to discover the meaning of true prosperity and refined service at its highest levels of an inspired, tasteful and stylish modern Najdi architectural designed by WAI (one of the internationally-reputable interior design firms) complimenting the life around when many are visiting and for a short-stay. All rooms and suites offer stunning views of Riyadh throughout, making them the ideal places to enjoy the dramatic sunset or the sparkling stars and lights of Riyadh.

Kaminski added " Burj Rafal will includes a very luxurious lobby with a huge conference and celebrations hall that can accommodate up to 2,000 people, in addition to 19 meeting rooms and a business center equipped with the latest technology to make your meetings successful. Burj Rafal Hotel Kempinski will be the most sought after address in Riyadh for special occasions, weddings, private parties, or conferences, exhibitions, or even for special meetings. "

Kaminski added: " On the 6^th floor, lies a European luxurious spa and wellness center within the hotel managed by Resense Spa. A fusion modern and traditional design, art, therapies and bathing; a genuine oasis for tranquility where stress melts away to make room for newfound energy. "

According to the Supreme Commission for Tourism and Antiquities in the Kingdom, there are more than 300 Travel and tourism agencies in Riyadh, continuously promoting Riyadh's business tourism which hosts the regional and international exhibitions and conferences that enhances the Hospitality sector growth, hotel occupancy and banquet demand.

Burj Rafal Hotel Kempinski Riyadh is the coronation of RAFAL's projects which launched Burj Rafal community in addition to Al Rabia and Blncyah communities. RAFAL has introduced a new concept of living to the city of Riyadh by innovating the Residential communities. RAFAL's future strategy reflects presenting over 3,950 residential units amid the environment of distinguished residential communities with a cost of over 5.1 billion Saudi Riyals.

-Ends-

About RAFAL
Headquartered in Al Riyadh, RAFAL Real Estate Co. was formed in late 2007, with the objective of developing distinguished communities with unique lifestyle, offering both Clients and Investors a real opportunity to live and invest in.

RAFAL has been able to fulfill its commitment by providing 809 residential units within distinguished communities: Blncyah, Al Rabia and RAFAL Tower. RAFAL's future strategy reflects presenting over 3,950 residential units amid the environment of distinguished residential communities with a cost of over 5.1 billion Saudi Riyals.

RAFAL is owned by leading business groups in KSA, namely, Ibrahim A. Abunayyan & Bros., A. K. Al Muhaidib & Sons Group and Arabian Tawazon for Commercial Investment Ltd., KSA

About Kempinski Hotels:
Created in 1897, Kempinski Hotels is Europe's oldest luxury hotel group. Kempinski's rich heritage of impeccable personal service and superb hospitality is complemented by the exclusivity and individuality of its properties. Kempinski now comprises a portfolio of 72 five-star hotels in 31 countries and continues to add new properties in Europe, the Middle East, Africa and Asia. Each one reflects the strength and success of the Kempinski brand without losing sight of its heritage. The portfolio comprises historic landmark properties, award-winning urban lifestyle hotels, outstanding resorts, and prestigious residences. Each one imbues the quality guests have come to expect from Kempinski while embracing the cultural traditions of its location. Kempinski is a founding member of the Global Hotel Alliance (GHA), the world's largest alliance of independent hotels.

© Press Release 2013