-Leading Hospitality & Commercial Property Developer Announces Expansion of its Portfolio in Line with Tourism Growth in Saudi Arabia-
RIYADH, SAUDI ARABIA, 2nd May 2011: Al Khozama Management Company (AKMC), a leading luxury commercial property development, investment and management company in the Kingdom of Saudi Arabia, has announced the signing of a management agreement for its first five-star hotel in the holy city of Madina, the Al Faisaliah Hotel Madinah. The company already operates the award winning five-star AKMC-Al Shohada Hotel in Makkah, and is scheduled to open the Al Khozama Hotel-Madina by the end of 2011. In addition, AKMC owns and/or operates a number of other luxury hospitality, retail and commercial properties Riyadh.
Confirmation of the agreement between AKMC and Al Aqeeq, a leading real estate development company in Saudi Arabia, was announced during the Arabian Travel Market (ATM) currently taking place in Dubai from 2nd – 5th May 2011.
AKMC’s activities and investments in the Kingdom reflect the continued growth of the tourism industry in Saudi Arabia, particularly in the business and religious travel sectors, where the latter currently accounts for 47.1 percent of all trips to the Kingdom. Last year, almost 1 million Ramadan visas for foreign pilgrims were issued by the Ministry of Haj, an increase of 16 percent on the previous year.
Mr Masaed Al Said, CEO of AKMC said: “One of the key aspects of AKMC’s business and development strategy is to expand its hospitality portfolio into the significant religious and business cities in the Kingdom. Under the leadership of H.H. Prince Bandar Bin Saud Bin Khalid, AKMC has been at the forefront of the hospitality industry’s development in the country since 1995, and continues to set the benchmark for impeccable service and luxury in all the cities in which it operates.”
Conveniently located within close proximity to the Mosque of Prophet Muhammad PBUH, Al Faisaliah Hotel Madinah comprises 495 well-appointed guest rooms and suites, a number of restaurant and dining options, and the first spa and wellness studio in Madina.
The five-star property complements the services and amenities being offered at the company’s boutique Al Khozama Hotel-Madinah located on the western periphery of the Prophet’s Mosque. The luxury property with 140 rooms and suits is scheduled to open in the fourth quarter of 2011.
AKMC’s appointment as hotel operator for the Al Faisaliah Hotel Madinah follows its successful development and management of the five-star property AKMC-Al Shohada Hotel in Makkah, now recognized as one of the leading hotels in the holy city. Impeccable service standards, which include the unique 24-hour butler service, coupled with unrivalled rooms and suites, have contributed to the hotel winning “Makkah’s Leading Hotel” at the 2010 World Travel Awards. The hotel is a key contender for the 2011 award to be announced this week.
Hussein Hatata, Vice President – Hotels Division, AKMC said: “AKMC’s strategic approach to development in the Kingdom has enabled the company to meet the demands of a fast growing industry and set standards that are currently unmatched in Saudi Arabia. AKMC has received more than 20 international awards for excellence in hospitality in the past two years alone, and we are confident that this will continue in 2011.
Since 1995 Al Khozama Management Company (AKMC) has been the frontrunner in the development and management of luxurious commercial properties in key locations across the Kingdom of Saudi Arabia .Combining smart investment in prime properties, outstanding vision for tomorrow’s trends and an innovative approach to management, AKMC is consistently establishing the benchmark in both operational and aesthetic standards.
AKMC boasts a diversified business model that covers the ownership, investment and management of properties in the hospitality, retail and office sectors and is the only company in the hospitality sector that has such a wide-ranging portfolio – from leisure resorts and city center business hotels, to those in religiously significant locations of Makkah and Al Madina Al Munawarra.
AKMC ranks in the top 100 companies in the Kingdom of Saudi Arabia. - For more information visit www.akmc.com.sa