BERLIN, Germany and McLean, Va. - Hilton and Shomoul Holding Company announced today the signing of a landmark agreement to develop and operate four hotels in The Avenues – Riyadh, the largest mixed-use development project in the Kingdom of Saudi Arabia. The development will include one of the world’s largest malls, with a leasable area of approximately 400,000 square meters housing more than 1,300 stores.
The SAR13bn ($3.4 billion) project will also include five multi-purpose towers consisting of hotels, exhibitions, conference halls, residential apartments, offices and medical facilities.
The Avenues – Riyadh is located at the entry point of the capital city, overlooking the intersection between King Salman and King Fahad Roads and is just a few minutes away from King Khalid International Airport. When completed in 2023, the project will be a beautiful architectural landmark in Riyadh, embodying the success of The Avenues – Kuwait, with its multiple districts and unique design. This mega project, with its different stages from construction to opening and operation, will create approximately 40,000 job opportunities.
The development will feature a mix of luxury retail, high street brands, in addition to traditional stores that are modelled on a traditional Riyadh Souk in respect to the region’s traditional retail architecture. The design reflects Riyadh’s contemporary lifestyle and culture, offering a diversity of districts, each designed in a different theme in harmony.
Hilton will operate four of its industry-leading brands at The Avenues – Riyadh, including a 350-room Waldorf Astoria, a 400-room Conrad – both offering Hilton’s unique luxury experiences – a 500-room Hilton Garden Inn and a 150-room Canopy by Hilton – the first of Hilton’s lifestyle Canopy brand in the Middle East.
Speaking at the signing ceremony, Mohammed A. Alshaya, Chairman of Shomoul and Mabanee, said: “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. We believe that having four of Hilton’s world-class brands as part of the towers will create an incredible destination for shoppers and travellers across the region and from around the world in Riyadh.”
“The Avenues – Riyadh is an incredible opportunity for Hilton to bring four of our industry-leading brands to one development project for the very first time. I am especially proud that we are signing this unique project in our 100th year – our most dynamic year yet,” said Chris Nassetta, President and CEO of Hilton. “Mohammed A. Alshaya and his team have been fantastic partners in this project and we look forward to doing our part to contribute to the Kingdom of Saudi Arabia’s vision for tourism.”
The announcement reinforces a growing partnership with Hilton, which already includes two hotels within the new expansion of The Avenues – Kuwait, namely the five-star Waldorf Astoria and the four-star Hilton Garden Inn, in addition to the Hilton Garden Inn in The Avenues – Bahrain.
In accordance with the Saudi Arabian government’s Vision 2030, The Avenues – Riyadh will promote and support increased tourism into the Kingdom, which currently accounts for some 9.4 percent of GDP and is expected to rise by almost 5 percent per annum for at least the next 10 years.
All four properties will participate in Hilton Honors, the company’s award-winning guest loyalty program that currently serves more than 85 million members.
Shomoul Holding is a joint venture between Mabanee, the largest real estate company in Kuwait in terms of market value and one which created a change in the tourism and retail sectors, and the Saudi-based Al Fozan Group, one of the leading players in the Saudi retail, industry, real estate and commerce sector, and Alshaya Group, a Kuwait-based family business established in 1890 and a group of leading companies in the Middle East’s commerce, retail and real estate sectors, as well as in investment, vehicles and projects.
Based on a long-term vision and belief in the investment and real estate development opportunities in the Kingdom of Saudi Arabia , The company has put in place a number of projects that are being designed and implemented with the highest international standards, thus achieving the goals of the investors . The current portfolio of the company includes two major projects in Saudi Arabia, namely, The Avenues-Riyadh and The Avenues-Khobar, which are inspired by the success of The Avenues- Kuwait.
Hilton (NYSE: HLT) is a leading global hospitality company with a portfolio of world-class brands comprising more than 7,200 properties and more than 1.1 million rooms, in 122 countries and territories. Dedicated to fulfilling its founding vision to fill the earth with the light and warmth of hospitality, Hilton has welcomed more than 3 billion guests in its more than 100-year history, earned a top spot on Fortune's 100 Best Companies to Work For list and been recognized as a global leader on the Dow Jones Sustainability Indices for six consecutive years. Hilton has introduced several industry-leading technology enhancements to improve the guest experience, including Digital Key Share, automated complimentary room upgrades and the ability to book confirmed connecting rooms. Through the award-winning guest loyalty program Hilton Honors, the more than 158 million members who book directly with Hilton can earn Points for hotel stays and experiences money can't buy. With the free Hilton Honors app, guests can book their stay, select their room, check in, unlock their door with a Digital Key and check out, all from their smartphone. Visit stories.hilton.com for more information, and connect with Hilton on Facebook, Twitter, LinkedIn, Instagram and YouTube.
About Waldorf Astoria Hotels & Resorts
Waldorf Astoria Hotels & Resorts is a portfolio of more than 30 iconic properties that creates a unique sense of place with a relentless commitment to elegant service, one-of-a-kind experiences and culinary expertise in landmark destinations around the world. Inspired by their timeless environments and sincerely elegant service, Waldorf Astoria hotels deliver an effortless experience seamlessly, creating a true sense of place for guests through stunning architecture, iconic Peacock Alley, refined art collections and elevated in-room amenities. In addition to the brand’s world-class hotel offerings, Waldorf Astoria boasts a global residential portfolio that provides the comfort of a private home combined with unsurpassed amenities and high-touch service. Waldorf Astoria is part of Hilton, a leading global hospitality company. Experience an unforgettable stay at Waldorf Astoria Hotels & Resorts by booking at waldorfastoria.com or through the industry-leading Hilton Honors app. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits. Learn more about Waldorf Astoria Hotels & Resorts at stories.hilton.com/waldorfastoria, and follow the brand on Twitter, Instagram and Facebook.
About Conrad Hotels & Resorts
Spanning five continents with 45 properties, Conrad Hotels & Resorts has created a seamless connection between bold design, impactful experiences and curated contemporary art to inspire the conscientious traveler. Conrad is a place where guests are empowered to explore through intuitive service and experiences that authentically connect them with local culture. In addition to its award-winning hotel offerings, the brand also features an expanding residential portfolio combining sophisticated design, best-in-class amenities and purposeful service in inspiring destinations. Experience Conrad Hotels & Resorts by booking at conradhotels.com or through the industry-leading Hilton Honors app. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits. Learn more about Conrad Hotels & Resorts at stories.hilton.com/conradhotels, and follow the brand on Facebook, Instagram and Twitter.
About Hilton Garden Inn
The award-winning Hilton Garden Inn brand provides business and leisure guests upscale, affordable accommodations and modern amenities for an experience that is simply on another level. The Hilton Garden Inn Promise affirms the brand’s goal to make each guest’s stay better and brighter. Guaranteed. With more than 970 hotels in 57 countries and territories around the world, the brand ensures today’s busy travelers have a bright and satisfying experience, starting with the first hello. Experience a positive stay at Hilton Garden Inn by booking at hgi.com or through the industry-leading Hilton Honors app. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits. Learn more about Hilton Garden Inn at stories.hilton.com/hgi, and follow the brand on Facebook, Instagram and Twitter.
About Canopy by Hilton
Canopy by Hilton is a sophisticated boutique lifestyle brand, providing guests and locals a place in the neighborhood to relax and recharge with simple, guest-directed service, comfortable spaces, an energizing atmosphere neighborhood-inspired food and drink and thoughtfully local choices. Each hotel is designed as a natural extension of its neighborhood and delivers a fresh approach to hospitality and the guest experience. The Canopy portfolio includes more than 35 open properties around the globe with more than 30 under development across 18 countries and territories. Experience a positively local stay at Canopy by Hilton by booking at canopybyhilton.com or through the industry-leading Hilton Honors app. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits. Learn more about Canopy by Hilton at stories.hilton.com/canopybyhilton, and follow the brand on Facebook, Instagram, Twitter and Pinterest.