Radisson to open five new hotels in Saudi Arabia this year

Preliminary data from STR showed some signs of optimism for the Middle East’s hospitality industry. (Supplied)
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Updated 14 March 2021
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Radisson to open five new hotels in Saudi Arabia this year

  • The Radisson Hotel Group has announced eight new ventures between the UAE and the Kingdom

DUBAI: Radisson is pushing ahead with plans to deliver five new hotels in Saudi Arabia this year, despite a global slowdown in the hospitality sector amid the COVID-19 pandemic.

The Radisson Hotel Group has announced eight new ventures between the UAE and the Kingdom, as the US chain doubles down on its Europe, Middle East, and Africa (EMEA) expansion with 5,000 rooms planned across the region.

“The Middle East and Africa are two key development areas and our ambitions across the region have remained the same,” Tim Cordon, Area Senior Vice President Middle East & Africa of Radisson Hotel Group, said.

Saudi Arabia, in particular, is a special market for Radisson, Cordon said, as half of its Middle East portfolio in operation and under development is in the Kingdom.

“We operate over 20 hotels, resorts and serviced apartments with over 3,500 keys in KSA today – with a pipeline doubling our portfolio by 2025,” he added.

The move comes as the hospitality industry struggles to recover from the blow of the global health crisis, which saw the industry incur massive losses in 2020.

But preliminary data from STR showed some signs of optimism for the Middle East’s hospitality industry.

While occupancy rates worldwide declined, the region was the highest on a rolling 7-day average ending with Feb. 7 at 50.4 percent.

Hotels in Al-Khobar, Dammam, and Jeddah have seen steady occupancy improvement in January, coinciding with new year celebrations.

Jeddah recorded a 62 percent occupancy rate during the period, and Al-Khobar and Dammam’s stood at 72 percent.

The positive outlook in the region could be attributed to mass vaccination drives. Gulf countries were among the first in the world to launch national inoculation programs to accelerate their return to normality amid the pandemic.


Closing Bell: Saudi main index closes in red at 10,414 

Updated 17 December 2025
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Closing Bell: Saudi main index closes in red at 10,414 

RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower on Wednesday, shedding 38.85 points, or 0.37 percent, to finish at 10,414.06. 

Total trading turnover on the benchmark index reached SR3.46 billion ($920 million), with 123 stocks advancing and 134 declining. 

The Kingdom’s parallel market Nomu also shed 41.61 points, or 0.18 percent, to close at 23,428.67. 

The MSCI Tadawul Index edged down 0.45 percent to 1,368.36. 

Arabian Drilling Co. was the best-performing stock on the main market, with its share price rising 6.8 percent to SR102.90. 

Naqi Water Co. gained 4.30 percent to SR58.25, while Saudi Ground Services Co. advanced 3.78 percent to SR38.42. 

Tihama Advertising, Public Relations and Marketing Co. saw its share price fall 4.95 percent to SR16.31. 

AlAhli REIT Fund 1 also declined 3.53 percent to SR6.29. 

On the announcements front, United Mining Industries Co., listed on the parallel market, said it has begun commercial production of gypsum board at its plant in Yanbu. 

In a Tadawul statement, the company said the financial impact of the project’s commercial production will be reflected in the first quarter of 2026. 

United Mining Industries Co.’s share price was unchanged, closing at SR42.54.  

Dkhoun National Trading Co. said its shareholders approved the board’s recommendation to distribute interim dividends on a semi-annual or quarterly basis for 2025. 

According to a Tadawul statement, shareholders also approved transferring the balance of the company’s statutory reserve, valued at SR2.43 million, to retained earnings. 

Dkhoun National Trading Co.’s shares saw no trades and closed at SR65.