Hilton has signed a management agreement with the Knowledge Economic City Company (Tadawul 4310) through its subsidiary company; Al-Gharaa International Real Estate Development to operate and manage the 300-room DoubleTree by Hilton Madina Gate, that is managed by the Fund Manager Riyad Capital, with the hotel expected to open in 2022.
Strategically located within the Madinah Gate Development and adjoining the Madinah Haramain Railway Station, the hotel will feature 250 guest rooms, 50 serviced apartments, two restaurants, including a lobby cafe open to the adjoining train station, meeting space, a fitness centre and gym.
The hotel will sit within the larger Knowledge Economic City (KEC) masterplan, a mixed-use urban centre comprising commercial, residential, recreational, educational and community elements. Occupying a 6.8-sq-km land area, KEC occupies a key strategic location between the Prophet Mosque, Haramain train station and the Madinah International airport.
This connection to the Haramain train station will provide a world-class convenient accommodation option to those using the new high-speed rail network between Madinah, King Abdullah Economic City in Rabigh, Jeddah and Makkah, as well as a convenient meeting spot for those visiting Madinah for commercial purposes. The KEC aims at supporting the national economy through the creation of distinct investment opportunities, which is expected to be a significant driver of guests to the new hotel.
At the signing ceremony in Madinah, Engineer Sami Abdulaziz Al-Makhdhoub, CEO of the Knowledge Economic City Company, said: “I am pleased to conclude this agreement with a well known international company like Hilton to provide technical, management and operation for our premier hotel leveraging the success of City Gate project through providing the best services for visitors, pilgrims and local community, in the area adjacent to the Haramain train station in Madinah.”
He added: "This agreement is a milestone for the Knowledge Economic City, helping in constructing a fruitful partnership between the KEC and Hilton Global. The signing with Hilton gives us great confidence that this alliance will lead to positive results in the near future."
Speaking at the signing event in Madinah, Amir Lababedi, Hilton’s managing director for Development Middle East and North Africa, said: “Hilton has a proud history of operating hotels in Saudi Arabia, and we are delighted to be strengthening our position in the country with the signing of DoubleTree by Hilton Madina Gate today. This latest addition to our portfolio will see Hilton occupy prime accommodation sites at the Haramain train stations in both Makkah and Madinah, providing Hilton guests with accommodation options at both of these connected national transport centres. We have great partners KEC and we are glad to be positively contributing to both their and the Saudi Arabian government’s drive to promote travel and tourism into the country as part of the Vision 2030.”
Hilton, which has operated hotels in the Kingdom since 1995, currently has 14 open hotels across the country and with 40 hotels in its development pipeline, expects to quadruple in size in Saudi Arabia in the next five years or so.
Hilton currently operates seven of its industry-leading brands in Saudi Arabia including Waldorf Astoria, Conrad, Hilton Hotels & Resorts, DoubleTree by Hilton and Hilton Garden Inn, and its pipeline of more than 40 hotels equates to an SR12 billion ($3.2 billion) investment by Hilton’s development partners. - TradeArabia News Service
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