KSA: Accor has signed a management agreement for the first the Swissôtel Living in Saudi Arabia.
The group has partnered with developer Al Raya Estate Group for Swissôtel Living Jeddah. With an opening date scheduled for 2021, the project will be part of a mixed-use development including hospitality, office, food and beverage and retail components.
Fahad Al-Alloush, CEO of Al Raya Real Estate said: “Our core business is to develop and manage real estate in the hospitality, residential and commercial sector. This project is offering a high standard mix of all with its primary component being the serviced apartments. We decided to proceed with the Accor Group to introduce the Swissotel Living Brand into the market of Jeddah due to its leadership and expertise in extended-stay brands. We believe Vision 2030 is definitely boosting the transformation of the Saudi tourism and hospitality market, and we are looking forward to explore more opportunities along with Accor in the kingdom.”
The project is located on Prince Saud Al Faisal Street, close to Jeddah’s main roads and the Jeddah Corniche, with breath-taking views of the red sea and numerous family and leisure landmarks situated along it. The project will feature 150 serviced residences including 53 studios, 75 one-bedroom units and 23 two-bedroom units, in addition to an all-day-dining restaurant, a lobby café and pool lounge, nearly 400 sqm of meeting space, an outdoor/indoor gaming area, a fitness centre and a rooftop swimming pool.
“This is a project we are extremely excited to launch. The stature of the project and its strategic location amid a plethora of demand generators around the central business district of Jeddah, will allow the Swissôtel Living Jeddah to actively attract a variety of demand segments,” said Mark Willis, CEO of Accor Middle East and Africa. “Our extensive research in the Saudi market highlights the growing demand from KSA travellers to stay in serviced apartments and benefit from the additional space with kitchenette facilities and privacy. The opening of our first premium stand-alone serviced residences in Jeddah within a high quality mixed-used development is a great opportunity to meet the demand and it will strongly add to Accor’s credentials of being a leader in the extended stay segment.”
Accor currently operates 39 properties in KSA (14,314 rooms) with 34 more properties (10,035 rooms) in the pipeline.
