Hotel101 Global, the hotel development unit of listed DoubleDragon Corp., said it entered the Saudi Arabian market through a landmark joint venture with Horizon Group that aims to develop of 10,000 standardized hotel rooms valued at approximately USD2.5 billion.
Hotel101 said the first five locations identified include Medina, Riyadh, Jeddah, Abha, and Alula, aligning with Saudi Arabia’s Vision 2030 strategy to diversify its economy and bolster tourism.
“We are confident in the Kingdom’s bold tourism roadmap and are excited to support its ambitions,” said Edgar “Injap” Sia II, Hotel101 Global Founder. “Our scalable ‘HappyRoom’ concept will contribute meaningfully to Saudi Arabia’s infrastructure and to our global vision of reaching one million rooms.”
Hotel101’s “one room” model delivers standardized, affordable accommodations worldwide, appealing to cost-conscious travelers and investors. The brand’s asset-light condotel business model allows for faster expansion while maintaining quality.
Horizon Group, a regional leader in development, brings critical local expertise. “With Hotel101’s rapid-build model and Horizon’s local know-how, we will add 10,000 quality, affordable rooms across the Kingdom—supporting Vision 2030, creating Saudi jobs, and expanding options for pilgrims, tourists, and business travelers alike,” said Abdulrahman Sharbatly, chief executive officer of Horizon Group.
“Saudi Arabia is among the 25 markets we’ve earmarked for expansion. Its surging tourist arrivals make it one of our most promising opportunities,” said Hannah Yukon-Luccini, CEO of Hotel101
In 2023, Saudi Arabia surpassed 100 million visitors, with tourism spending reaching USD67 billion. Hotel101’s entry supports the government’s target of 150 million tourists by 2030, tapping into robust demand for consistent, mid-scale accommodations across the Kingdom.
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