Millennium & Copthorne increases KSA pipeline with two new properties in Holy City of Makkah
The Group continues with impressive expansion in the Kingdom with agreement to operate two new hotel developments supporting the sustained growth in religious tourism
October 2015, Dubai. Millennium & Copthorne, Middle East and Africa continues with its major expansion in Saudi Arabia by announcing the signing of two new hotels in the Holy City of Makkah with one of Saudi Arabia’s most prominent companies, Al Rajhi Investments (part of Awqaf Sulaiman Bin Abdulaziz Al Rajhi). The agreement means Millennium & Copthorne has signed 10 hotels in the Kingdom within the past six months, reinforcing its position as the fastest growing operator in the region and ensuring it is on track to meet its target of 10,000 keys by 2020.
Due to open in 2017, the 822 key Millennium Hotel and 502 key Copthorne Hotel will both be located in the south eastern boundary of the Holy City of Makkah. Situated near to many important religious sites, the hotels will serve the growing number of religious tourists in the Kingdom, which are expected to rise from 17.5 million to between 25 and 30 million in 2025.
The signing was announced in Riyadh on 28th October under the patronage of His Royal Highness Prince Sultan bin Salman bin Abdulaziz, President of the Saudi Commission for Tourism and Antiquities (SCTA).
Ali Hamad Lakhraim Alzaabi, President & CEO, Millennium & Copthorne Hotels MEA says; “We are delighted to announce this agreement as a strategic partner in this project with Al Rajhi Investments, one of the most respected companies in the region. This agreement marks the beginning of what we believe will be a long and fruitful relationship with Al Rajhi Investments. We are further delighted to underline our commitment to bringing international hospitality standards to the Kingdom of Saudi Arabia".
Khalid Saud Abuhaimed, CEO, Al Rajhi Investments says; “We are very pleased to have Millennium & Copthorne as one of our trusted hospitality partners. We believe their international hospitality experience will deliver quality branded hotels. We have witnessed an increase in demand from religious tourists looking for hotels with international hospitality standards and we are confident that this partnership will help support this growth.”
Alzaabi added “Whilst Saudi Arabia is continuing to position itself as a business and in select locations a leisure destination, religious tourism is fueling the country’s growth in the hospitality sector. By working with Al Rajhi Investments, we are in a strong position to meet the needs of this sector by offering global expertise alongside an understanding of the local market. We currently have a number of properties under construction in the Kingdom and our strategic expansion plan extends across the entire country, with hotels due to open in the North, South and Western Provinces.”
The move shortly follows the signing of four hotels in Knowledge Economic City (KEC) in Madinah last month and is part of Millennium & Copthorne’s strategy to open over 20 hotels in the Kingdom within the next five years and 100 hotels across the Middle East by 2020.
About Millennium & Copthorne Hotels Plc
Millennium & Copthorne Hotels plc is a dynamic, global hotel company, which owns, asset manages and/or operates over 120 hotels worldwide. With almost 40,000 rooms worldwide, the company is present on all continents with a portfolio of brands which serve different market segments, representing quality and value in every class.
From a single property in Abu Dhabi, Millennium & Copthorne, Middle East & Africa has expanded into various neighbouring destinations and is now recognised as one of the fastest growing regional hotel management companies in the Middle East & Africa. Along the way, the company has cultivated partnerships with reputable and respected owners. Millennium & Copthorne currently operates 23 hotels, has over 10 hotels due to open within the next year and aims to operate 100 properties by 2020 for the MEA region.