Hilton signs deal to run four hotels in Riyadh mega project

Hilton and Shomoul Holding Company have announced the signing of an agreement to develop and operate four hotels in The Avenues - Riyadh
Hilton signs deal to run four hotels in Riyadh mega project
The Avenues - Riyadh will include one of the world’s largest malls, with a leasable area of about 400,000 sq m housing more than 1,300 stores.
By Sam Bridge
Tue 05 Mar 2019 02:03 PM

Hilton and Shomoul Holding Company have announced the signing of an agreement to develop and operate four hotels in The Avenues – Riyadh, the largest mixed-use development project in Saudi Arabia.

The development will include one of the world’s largest malls, with a leasable area of about 400,000 sq m housing more than 1,300 stores.

The SR13 billion ($3.4 billion) project will also include five multi-purpose towers consisting of hotels, exhibition, conference halls, residential apartments, offices and medical facilities.

When completed in 2023, the project aims to embody the success of The Avenues – Kuwait and will create approximately 40,000 job opportunities.

Hilton will operate four of its brands at The Avenues – Riyadh, including a 350-room Waldorf Astoria, a 400-room Conrad, a 500-room Hilton Garden Inn, and a 150-room Canopy by Hilton, the first of Hilton’s lifestyle Canopy brand in the Middle East.

Mohammed A Alshaya, chairman of Shomoul and Mabanee, said: “We believe that having four of Hilton’s world-class brands as part of the towers will create an incredible destination for shoppers and travellers across the region and from around the world in Riyadh.”

“The Avenues – Riyadh is an incredible opportunity for Hilton to bring four of our industry-leading brands to one development project for the very first time. I am especially proud that we are signing this unique project in our 100th year – our most dynamic year yet,” added Chris Nassetta, president and CEO of Hilton.

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