Hotel101 Global signs joint venture agreement with the Horizon Group
Philippine hospitality agency Hotel101 Global just lately signed a joint venture partnership with Horizon Group (Horizon) as the foremost companion for its enlargement into the Kingdom of Saudi Arabia.
The firm seeks to introduce the fast-growing Hotel101 Brand and develop as much as 10,000 rooms at the institution which is anticipated to translate to about US$2.5 billion in undertaking worth.
Five preliminary areas have already been recognized for Hotel101 Projects, the first of which is meant to be positioned in Medina, adopted by Riyadh, Jeddah, Abha, and Alula.
Inspired by management
Hotel101 Global founder Edgar “Injap” Sia II remarked: “We are inspired by the leaders of Saudi Arabia and their sheer determination and will power to make things happen, as such, we are confident in the plans they have laid out for the region and we believe the Hotel101 concept will be able to make a significant contribution in terms of room keys to complement the 2030 Vision for the Kingdom, and to form part of our global vision of one million Hotel101 rooms worldwide.”
Hotel 101 chief government Hannah Yulo-Luccini added: “We feel very fortunate to have found the right local partners to rapidly expand the Hotel101 brand in the Kingdom of Saudi Arabia, which is one of the 25 countries we have identified for the initial expansion of Hotel101. We see tremendous opportunities in the Kingdom of Saudi Arabia given the high growth in tourism both domestic and international. We believe Saudi Arabia will be one of the most exciting markets for Hotel101 globally.”
For his half, Horizon Group chief government Abdulrahman Sharbatly stated: “With Hotel 101’s rapid-build model and Horizon’s local know-how, we will add 10,000 quality, affordable rooms across the Kingdom, supporting Vision 2030, creating Saudi jobs, and expanding options for pilgrims, tourists, and business travelers alike.”
Shared visions
Hotel101 acknowledges the strategic alternatives introduced by the Saudi market and its Vision 2030 plan.
That stated,Hotel101 is dedicated to rolling out a standardized and predictable Hotel providing on common 500 rooms per web site which might cater to the evolving and rising calls for of the Saudi market.
In 2023, Saudi Arabia welcomed 27 million worldwide vacationers and 79 million home vacationers breaching the 100 million customer mark.
A complete spend of USD 67 billion showcased the strong tourism sector of Saudi Arabia.
This is in line with the goal of reaching over 150m vacationers by 2030. This supplies substantial alternatives in help providers and infrastructure in areas akin to Hotels, Shopping, F&B, and transportation.