Media ININ Economy We Trust
media In – Saudi Arabia February 27
A recent report by Colliers International said that a combination of recent reforms and large-scale investment in the tourism sector in Saudi Arabia will contribute to the growth of the hotel industry with a compound annual growth rate of 16% between 2017 and 2021.
Mohammed Awadallah, CEO of Time Hotels, said in a press release that “MediaN” was a copy of the importance of the role of medium hotels in the tourism sector in Saudi Arabia during his participation in the Saudi Hotel Investment Forum which started on February 26 at the hotel Riyadh Marriott Hotel.
“During the last period, we saw some government agencies and private companies cut travel expenses, which contributed to the increase in the demand for medium hotels and to increase their share compared to the luxury hotels that were more favorable in the past,” said Mohamed Awadallah, adding that the number of medium hotels over the next five years, The new hotels will be opened in Mecca (54%), Riyadh (16%) and Jeddah (12%).
Saudi Arabia is preparing to take advantage of recent reforms and relaxation of visa regulations to boost the tourism and leisure sector as it seeks to receive 30 million visitors a year by 2030
