Egypt-based Brassbell Hospitality Group launched Fanaya Hotel in Jeddah with a SAR 120 mn investment, the group’s Vice President of Expansion and Growth Adham Elbedewy told EnterpriseAM. The move marks the group’s first venture outside of Egypt and its first in the Kingdom, according to an emailed statement (pdf). The launch coincides with the tourism investments hype the Kingdom is seeing this quarter, Elbedewy told us.

About the project: The project features 51 suites, including 39 executive suites, three signature suites, eight superior suites, and an exclusive royal suite. It also features The Collectors’ Lounge, The Atelier, The Supper Club, The Courtyard Café, and The Rooftop. Fanaya targets culturally-engaged visitors and young and mid-career professionals, Elbedewy said.

In the pipeline: Brassbell is positioning the Kingdom as its primary expansion focus over the next five years, Elbedewy told us. Following its debut in Jeddah, the group is in advanced discussions to open two new Fanaya properties in Riyadh. It is also developing 145 units across two serviced apartment complexes in the capital, slated to open next year, Elbedewy said. In addition, Brassbell is in early negotiations for a wellness resort in Taif, and it is mulling developing a hybrid lifestyle hotel in the Eastern Province.

Brassbell is “extremely optimistic” about the Kingdom’s hospitality sector, as tourism is on track for “sustained double-digit annual growth,” Elbedewy told us, citing major events and increased air connectivity driven by Vision 2030. Brassbell expects that demand will outpace supply, especially in Jeddah and Riyadh. As the market evolves into a global powerhouse, growth will likely be dominated by lifestyle and boutique hotels catering to experiential travel, he added.

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