RIYADH: Saudi hospitality developer Amsa Hospitality has signed agreements with Radisson Hotel Group and Accor to create almost 400 hospitality units across Riyadh and Qassim.
Announced at the Future Hospitality Summit held in the Kingdom’s capital, the deal with Radisson will see a SR400 million ($106.53 million) project in Riyadh deliver 240 villas and apartments, with the ribbon set to be cut by the end of 2026.
Also scheduled to open by the end of this year, Accor’s Palm Qassim hotel will be located just 20 minutes from the Prince Naif Bin Abdulaziz International Airport in Buraidah, and will comprise 142 rooms.
The deals came as Saudi real estate company Blacksand and Marriott International signed a SR5 billion agreement to develop 10 hotels across the Kingdom as the tourism industry continues to scale up to facilitate the Vision 2030 goal of over 150 million annual visitors.
Speaking to Arab News on the sidelines of the FHS, Muin Serhan, CEO of Amsa Hospitality, said that the exclusivity and size of the Radisson project calls for human, as well as financial, investment.
“We have 64 villas, and 176 apartments, from one bedroom to two bedrooms to three bedrooms. Being a very exclusive asset, that means we have to have a certain number of Saudi talents who are going to manage these assets," he said, adding that they are planning for a workforce of 170 to manage the project across its different facilities.
Serhan also elaborated on the cost of development of the Amsa Vue Riyadh, saying the return on the SR400 million investment is expected to surpass SR1 billion.
In a press release marking the signing of deal for the Palm Qassim, part of Accor’s Handwritten Collection, Aamir Riaz, chief operating officer at Amsa Hospitality, said: “Through this project, we wanted to create a hospitality experience that reflects the character of the region while introducing a new offering for both domestic and international travelers.
“Amsa Hospitality is committed to operating and growing guest-loved properties that deliver authentic hospitality powered by advanced technology, disciplined operations, and distinctive brands such as Handwritten Collection.”
