Hilton inks deal to run four hotels at Riyadh project

Hilton inks deal to run four hotels at Riyadh project
Hilton president and CEO, Chris Nassetta, left, and Mohammed A. Alshaya, chairman of Shomoul. (Supplied)
Updated 06 March 2019

Hilton inks deal to run four hotels at Riyadh project

Hilton inks deal to run four hotels at Riyadh project
  • The US hospitality giant signed a deal with the Saudi-Kuwaiti Shomoul Holding Company to develop and operate the hotels at The Avenue
  • The hotels comprise the Waldorf Astoria, Conrad and Hilton Garden Inn brands, as well as the Middle East’s first Canopy by Hilton hotel

LONDON: Hilton has signed a deal to operate four hotels at a $3.4 billion mixed-used project in Riyadh, it emerged on Tuesday.
The US hospitality giant signed a deal with the Saudi-Kuwaiti Shomoul Holding Company to develop and operate the hotels at The Avenues — Riyadh mixed-use development.
The hotels comprise the Waldorf Astoria, Conrad and Hilton Garden Inn brands, as well as the Middle East’s first Canopy by Hilton hotel, the parties said in a statement.
The four hotels will have a total of 1,400 rooms between them, according to the statement.
“The Avenues — Riyadh is an incredible opportunity for Hilton to bring four of our industry-leading brands to one development project for the very first time,” said Chris Nassetta, president and CEO of Hilton. “We look forward to doing our part to contribute to the Kingdom of Saudi Arabia’s vision for tourism.”
The Avenues project, valued at $3.4 billion, will be one of the world’s largest malls, with more than 1,300 stores, and five towers consisting of hotels, conference halls, apartments, offices and medical facilities. The project, due for completion in 2023, is set to create approximately 40,000 jobs.