Hilton Hotels and Resorts announced on March 5 the signing of a bilateral agreement with Saudi-based Shomoul Holding Company for the establishment and development of four new hotels at The Avenues, Riyadh, Invest-Gate reports.
The hospitality giant will carry out the operations of four of its well-known hotel brands at Shomoul’s mixed-use development project, namely a luxurious 350-room Waldorf Astoria and a 400-room Conrad, along with a 500-room Hilton Garden Inn and a 150-room Canopy by Hilton – the initial of Hilton’s lifestyle Canopy brand in the Middle East, according to a released statement.
This deal comes as part of a broader partnership between Shomoul and Hilton, which already includes two hotels within the new expansion of The Avenues – Kuwait, in addition to Hilton Garden Inn in The Avenues – Bahrain.
“I am very proud to once again partner with Hilton at another of our ground-breaking Avenues projects in the region. The Avenues – Riyadh is a signature development offering a unique and ultimate lifestyle destination in the region, and will be the largest in our expansion portfolio,” Mohammed Alshaya, chairman of Shomoul, said during the signing ceremony.
“We believe that having four of Hilton’s world-class brands as part of the towers will create an incredible destination for shoppers and travelers across the region and from around the world in Riyadh,” he added.
When completed in 2023, The Avenues will be a remarkable architectural landmark in the kingdom’s capital and the largest mixed-use development project in Saudi Arabia, embodying the success of The Avenues – Kuwait, with its multiple districts and unique design, read the statement.
With a leasable area of 400,000 square meters, the USD 3.4-bn project will encompass the world’s largest malls, alongside five multi-purpose towers consisting of hotels, exhibition, conference halls, residential apartments, offices, and medical facilities.