Sabrina Princigalli’s Post

Local Tourism Thrives: Marriott International's Insight. 🔹 Local Tourism Dominance: Marriott International reveals that the majority of guests in Saudi Arabia are local, highlighting the burgeoning significance of internal tourism in the Kingdom. 🔹 Shift in Travel Trends: Amidst COVID-19, Saudis explored their own country, discovering hidden gems in secondary cities like Abha, fueling domestic tourism growth. 🔹 Future Outlook: With Saudi positioning itself as a tourist destination, Marriott anticipates a shift towards international travelers seeking experiences akin to destinations like the Maldives. 🔹 Expansion Plans: Marriott currently operates 38 properties in the Kingdom with plans for 40 more, including iconic brands like JW Marriott and Ritz-Carlton Reserve, catering to diverse traveler preferences. 🔹 Mixed-Use Developments: The upcoming JW Marriott in Jeddah and Ritz-Carlton Reserve in NEOM exemplify Marriott's commitment to mixed-use projects, integrating hospitality, office spaces, and retail offerings. 🔹 Operating Models: Marriott emphasizes flexibility in operating models, offering management or franchise agreements tailored to diverse hotel segments and investor preferences. 🔹 Future Hospitality Summit Highlights: More than 1,200 global investors gathered at the FHS to explore sustainable tourism and technology-driven hospitality, signaling promising opportunities for the industry's future. #MarriottInternational #SaudiTourism #HospitalityTrends #LocalTourism #FutureHospitality #InvestmentOpportunities

Saudi Arabia's hospitality sector is expected to see unprecedented growth over the next 10 years. The Saudi government has set an ambitious target to add 320,000 new hotel rooms by 2030, a move designed to cater to the anticipated surge in tourism demand. This initiative is a cornerstone of the Vision 2030 plan, which aims to diversify the kingdom's economy away from oil reliance and establish Saudi Arabia as a global tourism destination. The government's strategy involves significant investment in infrastructure, cultural, entertainment, and leisure projects to attract tourists. The article highlights key developments, such as the Red Sea Development and Qiddiya entertainment project, which are expected to be major attractions. Additionally, the easing of visa regulations and improved international outreach are likely to facilitate the influx of international visitors. The tourism sector's growth is poised to contribute substantially to the country's GDP and provide numerous employment opportunities, further stimulating economic development. For companies within the hospitality industry, this presents a wealth of potential investment and partnership opportunities to be part of Saudi Arabia's transformation into a tourism powerhouse. #SaudiArabia #Tourism #Hospitality #EconomicGrowth #Hotels #Expo2030

As Saudi Arabia continues its ambitious journey under Vision 2030, the #hospitalityindustry has emerged as a key player in the Kingdom's economic diversification efforts. With a staggering 58% growth in passenger arrivals in 2023 alone, the nation's tourism targets have been recalibrated, aiming for 150 million visitors by 2030, a milestone initially set for 100 million. This remarkable growth is a testament to Saudi Arabia's ongoing investments in infrastructure, tourism transformation, and the hospitality sector. From the development of world-class resorts like those in NEOM and the Red Sea Project to innovative initiatives like the Riyadh School for Tourism and Hospitality, the Kingdom is ready to become a premier global destination. However, achieving these ambitious goals requires more than just infrastructure. The focus on training and development is crucial. Programs such as the partnership between the Ministry of Tourism and UN Tourism, alongside the launch of Riyadh School for Tourism, are set to revolutionize industry education, ensuring that Saudi Arabia's hospitality professionals are equipped with the skills to deliver top-tier, globally recognized services. As we gear up for Expo 2030, the hospitality sector's ability to attract and retain talent will be fundamental. With competitive compensation, innovative training programs, and a strong emphasis on sustainability and luxury, Saudi Arabia is not just meeting but surpassing its Vision 2030 goals, setting a new standard in the #globalhospitality landscape. #saudivision2030 #hospitality #tourism #traininganddevelopment #riyadh #saudiarabia #globaltourism #expo2030 https://lnkd.in/dgykuWM5

Saudi Arabia's Hospitality Boom: 107% Surge in Hotel Rooms in Q3. Saudi Arabia’s tourism sector is experiencing unprecedented growth, with hotel rooms doubling year-over-year in Q3 2024! This expansion aligns with Vision 2030’s ambitious goals to transform the Kingdom into a leading global tourism hub. Here’s a quick snapshot: 🔹 Massive Expansion: Hotel rooms increased from 214,600 in 2023 to 443,200 in 2024 – that’s a 107% surge! 🔹 Room Licenses Double: The number of room licenses jumped to over 3,950 in Q3, showing the confidence investors have in the Kingdom’s tourism potential. 🔹 Vision 2030 Tourism Targets: Saudi Arabia aims to attract 150 million visitors annually by 2030 and has planned over $1 trillion in investments for world-class attractions like NEOM and the Red Sea project. 🔹 Economic Diversification: Tourism is set to become a pillar of Saudi Arabia’s GDP, contributing 10% overall and 7% to the non-oil sector—making it a powerhouse of growth and job creation. 🔹 Record-breaking Tourist Numbers: The Kingdom has already surpassed its target of 100 million visitors by 2030, with 100 million visitors to date—a blend of both domestic and international travelers. 🔹 World-Class Infrastructure: Saudi Arabia aims for 550,000 hotel rooms by 2030, including 75,000 from private sector partnerships, ensuring a luxury, high-quality experience for future tourists. With heritage sites, luxury resorts, and unique cultural experiences, Saudi Arabia is truly on the map for global tourism. If you're looking for local collaborations in KSA, feel free to reach out. We are always keen to explore new opportunities in this dynamic market! #SaudiTourism #Vision2030 #HospitalityGrowth #FDI #TourismInvestment #KSA #MiddleEastBusiness #EconomicDiversification #NEOM #RedSeaInitiative #Arabianproperties

Fancy staying in Saudi Arabia's new hotels? Careful! Your wallet and bank accounts aren't going to be happy about it. It seems Saudi Arabia's drive for transforming its tourism by launching new hotels and resorts is almost entirely focused on upscale and luxury. While this isn't a bad thing - they want to get more high-end visitors. I'm not sure it's the best strategy for a country that's solely relied on religious tourism for... centuries! According to Knight Frank MENA, the Kingdom plans to add 320,000 new hotels room by 2030. Of these 82% are in the "luxury and upscale segments." Not to mention, "66% of Saudi’s current 149,400 rooms are also upscale and luxury." It's a strategy worth exploring but it's also important to look at global travel and hotel trends to see what percentage of luxury travelers are there before focusing on solely on those travelers. Learn more in "Saudi Arabia’s Vision 2030 Is Too Expensive For Tourists – And Everyone Knows It" via Skift #amreading #SaudiArabia #travel #hotels #hospitality #MENAregion #middleeast

By 2030, KSA and UAE will dominate the #GCC hotel market, accounting for over 80% of the region's total hotel key supply. Our Roland Beger key insights: 🔹 The GCC countries are making significant investments in #hospitality, creating a diverse range of accommodations from luxury resorts to eco-friendly lodges, aimed at catering to different types of travelers. 🔹 The UAE's and Saudi Arabia's national strategies are heavily focused on #tourism as a pillar for economic diversification, aiming to boost visitor numbers and transform the region into a top global destination. 🔹 While UAE and KSA lead, other GCC countries are also expanding their hotel capacity, creating a more connected and competitive regional tourism landscape. With these developments, the GCC is poised to offer unique experiences, from cultural heritage to luxury and adventure, becoming a must-visit destination on the global tourism map! 🌍 💡 Read more: https://lnkd.in/dYAGT8FT #RolandBerger #Vision2030 A. Tobias Schoenberg, Jan Gerrit Köchling, Sheila Nazareth, Richard Stolz

Sindalah, Trojena, The Red Sea - all those bombastic Saudi projects you're seeing are only for 20% of travelers heading to Saudi Arabia... One thing I was really focused on at ATM last week was the narrative of Saudi Arabia being 'too expensive' for tourists. Skift did a piece on the matter from what we heard at Future Hospitality Summit the week prior. At ATM, we had no shortage of input from leaders across the industry on the issue, including Fahd Hamidaddin, the CEO of Saudi Tourism Authority | الهيئة السعودية للسياحة. Here's what you need to know: The giga-projects are expensive, but their purpose isn't just to drive up tourism numbers. That task will be for the many, many mid-market hotels and alternative accomodations Hamidaddin says Saudi will be announced between now and 2030. Also at ATM, several decision-makers in the hotel sector weighed in, as did Diriyah Gate Development Authority. The full piece, only on Skift: https://lnkd.in/dCMPzXQG Lex Haris Fahad Al Bahiti #tourismnews #travelnews #Sauditourism #Gigaprojects Saudi Vision 2030

𝐌𝐄𝐍𝐀 𝐇𝐨𝐬𝐩𝐢𝐭𝐚𝐥𝐢𝐭𝐲 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐢𝐳𝐞, 𝐒𝐡𝐚𝐫𝐞 & 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟑𝟐 ▶𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅: https://lnkd.in/d9Bg37UT The MENA hospitality market, valued at USD 262.88 billion in 2023, is expected to grow from USD 286.06 billion in 2024 to USD 487.36 billion by 2032, with a CAGR of 6.89%. Tourism and hospitality are vital for economic growth, with the Middle East’s travel and tourism sector contributing USD 459.9 billion, or 6.7% of the region's economy in 2023. The industry benefits from rising tourist spending, which totaled over USD 179.8 billion from international visitors and USD 205.3 billion from domestic visitors in 2023. Governments in the region are actively promoting tourism through various initiatives, such as Saudi Arabia's announcement of a SAR 42 billion (USD 11 billion) investment in the hospitality sector, which will create 42,000 new rooms and 120,000 jobs. Despite the severe disruptions caused by the COVID-19 pandemic in 2020, including the shutdown of theme parks, the market has rebounded strongly with the reopening of travel destinations and attractions worldwide. 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧: ▶𝐁𝐲 𝐓𝐲𝐩𝐞: Accommodation, Food & Beverage, Travel & Tourism, and Entertainment & Recreation. ▶𝐁𝐲 𝐓𝐫𝐚𝐯𝐞𝐥 𝐓𝐲𝐩𝐞: Leisure, Business, Religious, and Others. ▶𝐁𝐲 𝐓𝐫𝐚𝐯𝐞𝐥𝐞𝐫: Domestic and International. ▶𝐁𝐲 𝐏𝐫𝐢𝐜𝐞: Luxury, Mid-Range, and Economy. ▶𝐁𝐲 𝐁𝐨𝐨𝐤𝐢𝐧𝐠 𝐂𝐡𝐚𝐧𝐧𝐞𝐥: Direct Bookings, Online Travel Agencies, Tour Operators, and Others ▶𝐆𝐞𝐨𝐠𝐫𝐚𝐩𝐡𝐲: North America, Europe, APAC, Latin America, and Middle East & Africa. 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐜𝐨𝐯𝐞𝐫𝐞𝐝:                     Marriott International, Accor, Emaar Hospitality Group, Hyatt Hotels Corporation, IHG Hotels & Resorts, Jannah Hotels + Resorts, Jumeirah International Nurseries, Four Seasons Hotels and Resorts, Minor Hotels, Hilton. #MENAHospitality #MiddleEastHotels #GCCTravel #NorthAfricaTourism #LuxuryHotelsMENA #TravelMENA #HospitalityInnovationMENA #fatposglobal

The recent decision by Saudi Arabia to suspend municipal fees for hotel and resort licenses marks a pivotal step toward bolstering the Kingdom's tourism sector. This initiative, aligned with Vision 2030, not only enhances the investment climate but also strengthens tourism infrastructure by reducing operational costs. By fostering greater competitiveness and streamlining processes, Saudi Arabia is positioning itself as a world-class destination while driving economic diversification and job creation. Exciting times ahead for investors and tourism stakeholders! #Vision2030 #SaudiTourism #InvestmentOpportunity

Last year Saudi Arabia's travel scene truly took off, marking a 58% surge in visitor arrivals and reshaping the landscape of Vision 2030. This ambitious blueprint is not just a strategy; it's a transformation, positioning the Kingdom as a hub of international tourism and economic diversity. With Riyadh leading the charge, Saudi Arabia's hospitality sector is expanding its horizons, aiming to captivate global travellers while enriching local tourism experiences. This evolution reflects a nation ready to welcome the world with open arms, setting a new benchmark for what's possible in the realm of tourism and beyond: https://bit.ly/3JUeP3J #Hospitality #HBDPartners #Vision2030 #SaudiTourism