The hotel group will open hotels in Riyadh, Jeddah, Medina and Makkah, as well as important second tier cities such as Hayel, Jizan, Tabouk and Baha. In total it will have over 7,000 rooms in the Kingdom which will make it top priority for the company.
Currently Millennium and Copthorne Hotels & Resorts operates 17 hotels, with approximately 5,000 rooms across the United Arab Emirates, Kuwait, Jordan, Qatar, Oman and Iraq, with an ambitious expansion plan.
In addition to the Saudi hotels, over the next 12-18 months new properties are planned to open across the region in UAE, Kuwait and Oman. This is in line with the group’s business plan to operate 50 properties throughout the Middle East and Africa by 2017.
The announcement which was made today in Abu Dhabi at the Gulf Incentive Business Travel Meetings (GIBTM) exhibition.
In Dubai, Millennium Hotels & Resorts benefited from the continuous upward trend in visitor arrivals and added 225 rooms to its inventory at Millennium Airport Hotel and 198 rooms to the Millennium Plaza Hotel. As a result, Total Revenue jumped by 12% for the Dubai hotels and Gross Operating Profit by 30.3%.
The group’s three hotels in Abu Dhabi, including Grand Millennium Al Wahda, which is the largest hotel in the capital with 844 rooms and serviced apartments, made a signification contribution to the overall regional figures, with a 7.6 percentage points increase in occupancy levels and 30.8% increase in Gross Operating Profit in 2013.
The financial results from the UAE capital will be further boosted by the opening of what will be the group’s flagship hotel – the 667 bedroom Bab Al Qasr, located on the Abu Dhabi Corniche, which is set to come on stream in Q1 2015.