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Saudi Arabia Hotel Industry Expansion Will Be Massive

ImageThe hotel industry in Saudi Arabia will expand massively over the next few years as the Kingdom’s multi pronged initiative to boost tourism revenues is implemented.  The Elaf Group of Companies has announced they will build an additional four five star hotels in the Kingdom over the next few years.   The ambitious plans by Saudi Arabia’s pioneering tourism company are another indication that “the worst is over” for the Saudi economy.  The Riyadh based Jadwa investment firm earlier made this observation.

Elaf Group of Companies President Ziyad Bin Mahfouz announced plans for the new hotels while giving media a guided tour of the newly opened five star Elaf Jeddah Hotel at the Red Sea Mall. The Elaf Jeddah Hotel has 156 rooms of different classes with prices ranging between SR700 and SR2,500 per night.  The hotel has a multi purpose function hall that seats 150 (currently under construction), spa center, children’s playground, and garden.  Interior furnishings and decorations for the new hotel cost SR75 million.
 

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