Fairmont to Develop Two Middle East Hotels
At the recent Arabian Investment Conference held in Dubai, Toronto-based Fairmont Hotels & Resorts said it has signed an agreement to develop two new luxury hotel projects, in Morocco and the Kingdom of Saudi Arabia. The two new hotels, Fairmont Taghazout Bay, Morocco and Fairmont Al Khobar, Saudi Arabia, are both scheduled to open before 2020.
The development of these properties will see Fairmont's luxury hotel portfolio in the Middle East, Africa and India region increase to 20 hotels by 2020, boosting the brand's presence within two major economic and tourist hubs.
"The market for luxury accommodations in Morocco and Saudi Arabia is growing at a rapid pace with an excellent outlook for investment performance," said Sami Nasser, senior vice president of operations for Fairmont parent company FRHI in the Middle East, Africa and India. "We are happy to increase our presence and our commitment to these dynamic regions and look forward to successfully launching these new hotels while continuing to explore future development opportunities throughout the region and globally."
Scheduled to open in 2019, the 155-room Fairmont Taghazout Bay in Morocco, which will be built adjacent to the Kyle Philips signature 18-hole golf course, will feature 27,000 square feet of meeting space, as well as a full-service spa, gym, and several dining options. The property will also include 52 luxury residential villas.
The 240-room Fairmont Al Khobar, Saudi Arabia, which is set to open in 2020, will be situated in Al Khobar on the coast of the Arabian Gulf, near the Central Business District. It marks FRHI Hotels & Resorts' second development in the region, following the previously announced 180-room Swissôtel Al Khobar, set to open in 2019. Fairmont Al Khobar will feature 43,000 square feet of meeting space, as well as a full-service spa and several dining options. The project will include a dozen serviced residences.