Millennium & Copthorne Hotels, Middle East and Africa has announced its expansion into Saudi Arabia with the signing of four hotels in Madinah.
The properties include two Millennium hotels as well as a Studio M and Millennium Executive Apartments, the Group’s budget and serviced apartment brands. The properties are part of the masterplan of Knowledge Economic City, an impressive $7bn development in Madinah.
The four hotels are envisioned to open by 2020 and will range in size from 600 to 1,000 rooms per property. Knowledge Economic City (KEC) is located 5 km east of the Holy Haram in Madinah. The master development will also feature an academy and campus, museum, wellness centre, retail, commercial offices, residential housing and a mosque housing 10,000 worshippers.
The Group’s presence in Madinah will address the demand for quality internationally branded and long-stay options in the city, especially during the religious periods of Hajj and Umrah. In addition, the business and conference segments are expect to encounter growth in the coming years with the completion of Knowledge Economic City.
Commenting on the new signings, Ali Hamad Lakhraim Alzaabi, president and CEO, Millennium & Copthorne Hotels MEA said; “This agreement is another significant achievement supporting our rapid expansion in Saudi Arabia, a key strategic focus country for our Group. The hospitality industry in the Holy City of Madinah is witnessing remarkable growth due to a rise in religious tourism as well as the thriving economy. There is currently an undersupply of branded hotels with international standards and we are confident that our expansion plans will help address this.”
The move follows the signing of four hotels in Madinah and Riyadh earlier this year and is part of Millennium & Copthorne’s strategy to open over 20 hotels in the Kingdom over the next five years and 100 hotels across the Middle East by 2020.
Alzaabi continued; “We are proud and honoured to be part of such an important development such as Knowledge Economic City, which is expected to drive economic growth and employment to the city. As a global operator with a deep understanding of the region we are confident that we can support this major infrastructural project by providing the highest levels of hospitality to this exciting development.”