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New additions
to the brand’s LVX collection include three properties across Bahrain and Saudi
Arabia; brings total Middle East portfolio to 22 hotels
Preferred
Hotels & Resorts, the world’s largest global provider of sales, marketing
and distribution services to independent luxury hotels, continues to expand its
Middle East portfolio with the addition of two new five-star hotels in the
Kingdom of Saudi Arabia and another five-star hotel in the Kingdom of Bahrain.
The
three additions consist of a duo of ultra-boutique properties in the Saudi
capital Riyadh, namely the Vivienda Residences and Vivienda Granada, along with
independent luxury leader, The Domain Hotel & Spa, in Manama, Bahrain. All
three properties join the Preferred Hotels & Resorts LVX Collection of
refined and globally sophisticated hotels and resorts and represent the
company’s debut in these two key regional markets.
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“This
is a milestone moment in the development of the Preferred Hotels & Resorts
brand in the Middle East. We are making great strides in the region’s dynamic
hospitality market, which is synonymous with luxury global and regional brands
as well as unique independent hotels and provides strong synergy with
Preferred’s exacting brand values,” said Saurabh Rai, Executive Vice President,
Preferred Hotels & Resorts.
Effective
immediately, all three properties have the opportunity to capitalise on
Preferred’s 48-year tourism industry pedigree, with access to its innovative
sales and marketing expertise and network of sales professionals located in 35
offices worldwide.
In
2015, Preferred showcased the value it brings to its hotel partnerships by
generating more than US$1 billion in collective reservations revenue for its
member properties around the world. Thus far in 2016, the brand’s success in
supporting independent hotels has continued to be strong, producing a 19%
increase in reservations revenue for member properties globally from January
through August 2016, compared to the same time period in 2015.
| Left to right – Dr Mohammed Almalik, CEO of Forus, Owning company of Vivienda Hotel Villas; Lindsey Ueberroth, President & CEO, Preferred Hotels & Resorts and John Ueberroth, Executive Chairman, Preferred Hotels & Resorts |
According to hospitality research firm
STR, in Q2 2016, hotels in Saudi Arabia experienced nearly flat occupancy
(-0.5% to 64.8%), but a double-digit rise in ADR (+14.2% to SAR816.60) which drove
a double-digit increase in RevPAR (+13.6% to SAR528.86) compared with the same
period in 2015.
The
market is also experiencing exponential growth, reporting the most rooms 'in
construction' among the countries in the Middle East and Africa, with 35,770
rooms in 81 hotels. Riyadh alone has 6,657 rooms in 30 hotels under
construction. Given the Saudi government’s diversification strategy, the extra
rooms will be needed. Economic
analysts expect that by 2020 the number of tourists visiting the Kingdom will
increase from 200,000 to 1.5 million.
Deputy Crown Prince Muhammad Bin
Salman has rejuvenated the Kingdom’s tourism sector as the strategic plan aims
to increase the revenue generated from tourism to 18% of GDP in the next 14
years. To put that into perspective, in 2015 oil revenue alone accounted for
more than 70% of overall government revenue.
The highly sought-after Vivienda
Residence, which is comprised of 12 stunningly designed and furnished private
villas offering 134 to 634 square metres of living space, is close to the
iconic Kingdom Tower. The gated residence features a pool, gym, all-day Italian
restaurant and is about to unveil its own pop-up concept with a calendar of
visiting Michelin-starred chefs.
Sister property, the 48-room Vivienda
Granada, is also an all-villa property, with a collection of three-bedroom
residences located in the new financial district of Al Shohada, just a 30-minute
drive from the international airport and set within 33,000 square metres of
landscaped grounds.
A leading independent property in Manama,
The Domain Hotel & Spa offers 131 guestrooms and suites and is located in
the upscale, and popular, diplomatic area of the Bahrain capital, and just
seven kilometres. The hotel is
also a popular choice for corporate and social events with a suite of
conference facilities.
Other
recent additions to Preferred Hotels & Resorts’ burgeoning Middle East
portfolio include the soon-to-be-opened DUKES Dubai and a number of hotels
under the Katara Hospitality portfolio in Qatar such as Simaisma, A Murwab
Resort. A total of 91 new properties joined forces with Preferred Hotels &
Resorts in 2015, and an additional 55
properties have been welcomed into the brand portfolio thus far this year.
For
more information on Preferred Hotels & Resorts, its member hotels,
programs, products, and services, visit www.PreferredHotels.com.
