Hyatt Hotels and Al Khozama Management Company announced separately major investment projects in Saudi Arabia, at the annual Arabian Travel Market (ATM) in Dubai that opened Sunday and will run up to May 3 at Dubai International Convention and Exhibition Centre. In February of this year, Hyatt announced that it had opened a worldwide sales office in Saudi Arabia and had entered into agreements with Naseel Holding Company to manage three new Hyatt-branded hotels in the kingdom, bringing to six the number of Hyatt-branded hotels under development in Saudi Arabia across five of Hyatt's brands. Currently, there is one Hyatt-branded hotel in Saudi Arabia, Park Hyatt Jeddah - Marina, Club and Spa, which opened in 2009. "Hyatt's progress in Saudi Arabia has been absolutely remarkable, and we are truly excited about what we will now be able to offer guests visiting the Kingdom," said Dubai-based Thierry Bertin, vice president of World Wide Sales for Hyatt International - South West Asia, on the sidelines of the Arabian Travel Market. "Our newly-opened worldwide sales office Saudi Arabia, with its focus on localized and personalized service, will superbly support visits at all of our Saudi properties, as well as those outside the country," he added. Park Hyatt Riyadh, currently slated to open in the fourth quarter of 2015, will be a stand-alone building located on King Fahd Road in the Olaya District in the city of Riyadh, situated near the Kingdom Center and the Al Faisaliya Tower. Meanwhile, Al Khozama Management Company said more than $140 million (SR500 milion) is being allocated to ambitious hospitality projects in the Kingdom, further strengthening its leadership position with construction of new hotel projects and refurbishment of existing luxury properties in Riyadh. Khozama outlined projects in the company's pipeline, including the conversion of the Al Khozama Center in Riyadh into a 4-star deluxe Hotel Al Khozama to replace the existing Hotel Al Khozama which has been in operation since 1978. Work on the new project will begin in Q4 of 2012, with the opening of the new property scheduled for the last quarter of 2014. The new Hotel Al Khozama will comprise 215 rooms and suites, among others.
