Marriott International has signed an agreement with Al Maryia Real Estate Establishment to open a Four Points by Sheraton in the Saudi Arabia's capital city Riyadh in 2019.
“This deal reinforces our commitment to Saudi Arabia where we continue to see a strong demand for our brands across the country with over 30 hotels and nearly 10,000 rooms in our development pipeline,” Alex Kyriakidis, president and managing director, Middle East and Africa, Marriott International, said in a statement.
“Marriott International is now the biggest hotel company in the world and we look forward to building a strategic relationship with them that is aligned with Kingdom’s Vision 2030 which enforces the importance of strengthening and expanding the tourism sector in the country," Mohammad Bin Saad Al Hammaly, chairman of Al Maryia added. "For Al Maryia, this deal is a great step forward in expanding the company’s portfolio in the hospitality sector.”
The Four Points brand is on track to open six properties in Saudi Arabia in the next five years. Marriott International currently operates 19 properties and over 5,000 rooms in Saudi Arabia. The company is on track to reach its milestone of 50 operating hotels in the country in the next five years.