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Coral Hotels & Resorts and Corp Executive Hotels Head for Saudi Travel and Tourism Investment Market

Coral Hotels & Resorts and Corp Executive Hotels have announced their participation in the upcoming Saudi Travel and Tourism Investment Market (STTIM) happening in Riyadh from 26th to 29th March.Making the announcement Michel Noblet, President & CEO, HMH – Hospitality Management Holdings said, “Saudi Arabia is both a key feeder market for our hotels in the GCC as well as a lucrative ground for growth and expansion for our brands with nearly 40% of our portfolio concentrated in the Kingdom. STTIM is a premier international travel trade exhibition that will provide us an excellent opportunity to showcase our existing and upcoming hotels while reaching out to the burgeoning Saudi travel and tourism market.”

Tourism has been a focal point for Saudi economy with the authorities focused on developing international and domestic religious and business travel withthe Kingdom's economic growth attracting a growing number of corporate travellers. At the same time, the country is keen to develop its domestic tourism market in an effort to encourage Saudis to holiday at home. The leisure segmentaccounts for the largest number of domestic tourists (48 percent).

The number of tourist arrivals is expected to grow by an average of 6% year to year by the end of 2015. The hospitality sector looks set to grow in tandem with tourist arrivals. BMI forecasts that there will be 381,000 hotel rooms in Saudi Arabia by 2015, up from an estimated 242,000 in 2010. The potential for the country’s MICE (meetings, incentives, conferences and exhibitions sector) market is equally vast.

HMH is definitely eyeing a bigger chunk of this market and is looking to penetrate further with its budget brand ECOS Hotels. “We are a big believer in Saudi Arabia owing to its excellent infrastructure, safe environment, fabulous business opportunities and now leisure attractions. The market is extremely resilient and needs more mid-market & budget hotels,” Michel said.

Leading the HMH sales delegation to the show will be SadiqIqbal, Regional Director, Sales and Revenue Management. He said, “STTIM has been growing consistently over the years, 2012 being its fifth successful year. It offers the perfect platform to meet key investors, leading travel trade groups and consortias, tour operators and destination management companies, MICE managers and travel technology providers. This presents us with unique opportunity to promote our hotels as well as network with strategic players. All together the show highlights the potential of KSA as a global player in the travel and tourism industry.”

The participating hotels under HMH banner include Corp Executive Hotel Apartments Al Barsha, Dubai; Coral Beach Resort, Sharjah; Coral International Hotel Al Khobar; Coral Hotel Dhahran; Coral Plaza Al Ahsa; Coral Hotel Jubail; Coral Al Hamra Riyadh; Corp Deira, Riyadh; Coral Suites Hotel Fujairah and Coral Deira, Dubai.

With openings in Jeddah and Riyadh later this year, Coral Hotels & Resorts, will be soon be adding exciting new properties to its portfolio. Michel said, “We are focusing on consolidation as much as expansion. Continuing strong growth in the Kingdom is important to the group that’s well-positioned to cater to the unique demands of this destination”.

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For media contact:

Hina Bakht
Vice President
MPJ (Marketing Pro-Junction)
Mob: +971506975146