Hospitality giant Rotana will operate Damac Towers Riyadh in the Saudi Arabian capital under an agreement with Damac Hotels and Resorts, the hospitality arm of Dubai-based Damac Properties.
According to a joint statement, the hotel – comprised of two towers featuring Fendi Casa-furnished hotel apartments – is the first property to be included in the agreement between both Rotana and Damac.
The deal was signed on the opening day of the 2019 iteration of travel and tourism expo Arabian Travel Market, which opened on 28 April.
Ali Sajwani, general manager of operations at Damac, said its Rotana partnership would help the Dubai company “realise [its] vision of offering unrivalled opportunities in the hospitality industry”.
He added: “[Saudi Arabia] sees continued growth in the travel sector, which is driven primarily by leisure, pilgrim, and corporate visitors, and we are confident that this partnership will translate to renewed value for investors and differentiated experiences for our guests.”
Guy Hutchinson, acting chief executive officer of Rotana, said the move “confirms our commitment to achieving the goals of the National Transformation Program 2020”, in which Saudi looks to position itself as a global commercial, economic, and tourism destination.
The news comes amid increased activity in the kingdom’s hospitality sector, with major international hotel operators eyeing a stronger presence in the country as more rooms come online.
Earlier this month saw American hotel giant Hilton expand its reach in Saudi Arabia, adding nearly 2,000 rooms in the kingdom through a management agreement with Umm Al Qura for Development and Construction Company.
A Lodging Econometrics report published last November found that close to 360 hotel projects are currently under construction in what was described a “record high” for the Middle East.