Saudi Arabia - Rotana, a leading hotel management company in the region with hotels across the Middle East, Africa and Turkey, and SHUAA Capital Saudi Arabia (SCSA), a leading investment manager, have announced the opening of the Centro Waha Riyadh Hotel. This is the second hospitality project to be developed courtesy of the Shariah-compliant SHUAA Saudi Hospitality Fund I and under the Centro by Rotana brand in the Saudi market.
The new hotel includes 290 rooms, studios and hotel suites.
During the official opening ceremony, the CEO of SHUAA Capital Saudi Arabia, Omar Al-Jaroudi, noted that after the opening of Centro Shaheen in Jeddah last year, Centro Waha Riyadh is another significant milestone in the successful strategic partnership between SHUAA Capital Saudi Arabia and Rotana.
“The new hotel is the embodiment of our long-term vision for the Saudi hospitality market which is undergoing a period of rapid growth. Our partnership with Rotana has already proved to be a winning formula and we look forward to building on this success with the opening of more Centro hotels across the Kingdom,” Al-Jaroudi said.
Vice Chairman of Rotana Selim El-Zyr, said: “Today, we are proud and happy to participate in the Kingdom’s development journey, as we seek to contribute to the realization of the ambitious Vision 2030 and achieve the goals of the National Transformation Program 2020, which entails the activation of the Kingdom’s regional and global role as a commercial and economic center, as well as a destination for tourists and investors alike,” he said.
El-Zyr added: “The opening of Centro Waha in the capital Riyadh will support the showcased hotel rooms offering, and will also support the diversification of hotel products in the Kingdom’s hospitality sector.”
President and CEO of Rotana Omer Kaddouri said: “The new hotel is a unique part of Rotana’s eventful journey in the Saudi market. Business travel and accommodation for the budget-conscious executive is an increasingly important market and the Centro concept is specifically designed to cater to this rapidly expanding market. Appealing to large corporate entities, small and medium business owners, and individual travelers, Centro by Rotana is an ‘Essential Service’ hotel brand, which is much needed in the Kingdom.”
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