Hotel101 to debut in the Kingdom via USD 2.5 bn investment: Filipino hotel chain Hotel101Global — a unit of DoubleDragon — partnered with Saudi investment firm Horizon Group to bring its brand to the kingdom, according to a statement on X posted last Thursday. A joint venture between the two firms will work on developing up to 10k of Hotel101’s signature standardized hotel rooms at a value of USD 2.5 bn.

(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)

Where will the hotels be launched? Hotel101 is eyeing five locations for a start, namely Madinah, Riyadh, Jeddah, Abha, and AlUla.

ICYMI- The travel and tourism sector is projected to contribute SAR 447.2 bn (c. USD 119.2 bn) to the Kingdom’s GDP this year. These projections align with the Tourism Ministry’s plan to host 150 mn tourist trips by 2030, with the target of seeing 80 mn domestic travelers and 70 mn international travelers by that year.

Tags: