Hyatt Place debuts in Saudi Arabia

Photo credit: Hyatt Place Riyadh Al Sulaimania

Hyatt Hotels Corporation has opened the Hyatt Place Riyadh Al Sulaimania, debuting the brand in Saudi Arabia.

Developed by Saudi Marhaba Hospitality & Tourism Company, the hotel joins Hyatt Regency Riyadh Olaya, Park Hyatt Jeddah and Jabal Omar Hyatt Regency Makkah, boosting Hyatt’s portfolio of brands in Saudi Arabia and overall footprint in the Middle East. 

“We are excited to introduce our select-service portfolio to the Kingdom of Saudi Arabia with the opening of the first Hyatt Place hotel,” said General Manager Adnan Haider. “This hotel strengthens Hyatt’s position in the region as a brand leader and showcases a different type of guest and hotel experience [in Saudi Arabia].”

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Hyatt's interest in Riyadh is understandable: Last month, HotStats reported hotels in the city recorded an 18.5-percent, year-over-year increase in GOPPAR to $58.07. The growth in profit was led by a 10.7-percent increase in RevPAR to $101.09, which was due to an 11.1-percentage-point increase in room occupancy to 59.6 percent, which offset the 9.9-percent decline in achieved average room rate to $169.71. 

However, growth in profit at hotels in Riyadh was against a backdrop of declining room rates, which included a decrease in rate in the corporate (down 12.4 percent), individual leisure (down 52.8 percent) and group leisure (down 42.5 percent) segments, according to the data.

Later this year, Hyatt expects to open the Hyatt House Jeddah Sari Street, bringing the company’s extended-stay Hyatt House brand to the country.

Suggested Articles

Lindsay Jarvis began her career with AHC+Hospitality in 2008 as a front-desk agent at the Amway Grand Plaza in Grand Rapids, Mich.

Joseph Cavet has more than 15 years of leadership experience and previously held positions at the Plaza Hotel in New York City.

Lowe Enterprises' new management division is designed to be a smaller firm with a more intimate relationship with hotel partners.