IT’S been another record-breaking year of growth for The Ascott Limited (Ascott) fuelled by new property openings across the Middle East, Africa, Turkey and Kazakhstan, and buoyed by expansion deals in new and established markets.
This year saw the group push ahead with ambitious expansion plans in Saudi Arabia, by signing a management contract in April to open the 92-unit Citadines Al Aziziyah Al Khobar. The property is set to open in late 2021 and will be Ascott’s eighth residence in the Kingdom, and it’s third in the strategic Eastern Province city of Al Khobar.
Looking ahead, KSA remains an important focal point with further openings in the pipeline across the Kingdom. Somerset Downtown Al Khobar is set to open in 2020, along with Citadines Abha, Ascott Villas Riyadh – all scheduled to open by Q4 2020.
“As the kingdom pushes ahead with Saudi Vision 2030, the hospitality sector is likely to be a key driver in boosting the nation’s non-oil revenue,” notes Vincent Miccolis, Ascott’s regional GM for Middle East, Africa, Turkey and India. “These are hugely exciting times for us as we capitalise on our market-leading presence in KSA and set new benchmarks for the Kingdom’s hospitality landscape.”
Elsewhere, the group is deepening its existing presence in key regional markets with 2020 openings planned for the United Arab Emirates (Citadines Culture Village Dubai), Oman (Citadines Al Gubrah Muscat) and Turkey (Citadines Maslak Istanbul).
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