Marriott International Inks Landmark Agreement with Rua Al Madinah Holding Company to Open Eight Hotels in Saudi Arabia
Anticipated projects will add nearly 4,400 rooms in the Holy City of Madinah
WEBWIRE – Tuesday, March 21, 2023
Marriott International, Inc. announced it has signed an agreement with Rua Al Madinah Holding Company to open eight hotels in the Holy City of Madinah in Saudi Arabia. Located in close proximity to the Prophets Mosque, Al Masjid An Nabawi, the planned properties will be part of the Rua Al Madinah Project which aims to elevate the service and travel experience for visitors of Madinah. The anticipated openings will feature approximately 4,400 rooms across eight of the companys brands The Ritz-Carlton, JW Marriott, Marriott Hotels, Westin Hotels & Resorts, Le Mridien Hotels & Resorts, Four Points by Sheraton, Aloft Hotels, and Courtyard by Marriott.
There is a strong demand for high-quality hotel accommodation in Madinah and we are delighted to work with Rua Al Madinah Holding Company to support the enhancement and diversification of the citys hospitality landscape, said Satya Anand, President, Europe, Middle East & Africa, Marriott International. This multi-deal agreement also strengthens our footprint in Saudi Arabia where we continue to see strong growth momentum in line with the Kingdoms vision for its tourism sector.
The agreement with one of the worlds leading hospitality operators brings the Rua Al Madinah project a step closer to realising its ambitions to further enrich Madinah citys Hajj and Umrah services” commented Eng. Ahmed Al Juhani, CEO of Rua Al Madinah Holding Company. This collaboration will culminate in the launch of eight new hotels and nearly 4.400 rooms that will serve both residents as well as visitors from around the world looking to visit Madinah.
The eight planned properties includeThe Ritz-Carlton, Rua Al Madinahwhich is slated to offer151 luxurious rooms and suites including a signature Ritz-Carlton suite, multiple dining concepts, a 500-sqm ballroom, an expansive fitness centre and Ritz Kids space.JW Marriott Rua Al Madinahis anticipated to feature 252 well-appointed guestrooms and suites along with multiple dining concepts, a fitness centre and meeting room facilities.
Plans forMadinah Marriott Hotel Rua Al Madinahinclude450spaciousguest rooms and suites in addition to dining, recreation, and meeting facilities.Le Mridien Rua Al Madinahis expected tofeature 533 modern guest rooms and suites, and three dining concepts alongside recreation and meeting facilities.The Westin Rua Al Madinahis anticipated to comprise 361 spacious rooms and suites, three dining outlets, a fitness centre, a kids club, and meeting facilities.
Four Points by Sheraton Rua Al Madinahanticipates 777 modern rooms and apartments, two all-day dining concepts, spacious meeting facilities, and a fitness centre.Aloft Rua Al MadinahandCourtyard by Marriott Rua Al Madinahare expected to offer a combined 1,810 rooms and suites, 1,100 sqm of meeting space facilities, and multiple dining and recreation offerings.
The expected openings in Madinah are part of Marriott Internationals commitment to the growth of the tourism sector in Saudi Arabia where the companys current portfolio encompasses 36 properties and more than 10,000 rooms across 11 of its brands.
Rua Al Madinah Holding Company is responsible for the development masterplan for the Rua Al Madinah project and some other real estate projects in the Holy City of Madinah as one of the key initiatives of the Public Investment Fund to achieve Saudi Arabias Vision 2030. The development of the Rua Al Madinah Project is expected to cover 1.5 million square meters, including 47,000 new rooms by 2030. Approximately 63% of the projects master plan will consist of open spaces. Integrated transportation solutions such as bus stops, and underground parking are anticipated to facilitate easy access to the Prophets Mosque and support residential and commercial activity within the master development.
About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 8,300 properties under 30 leading brands spanning 138 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy, its highly awarded travel program. For more information, please visit our website atwww.marriott.com. In addition, connect with us onFacebookand @MarriottIntl onTwitterandInstagram.
About Rua Al Madinah Holding
A wholly-owned subsidiary of Saudi Arabias Public Investment Fund, Rua Al Madinah Holding undertakes holistic development projects that feature modern urban planning to elevate the experience of residents and visitors of Madinah, the home to countless Islamic monuments that tell the story of the Prophet (PBUH) and his revered companions. The company aims to elevate Madinah as a modern Islamic and cultural destination.
With a capital of SAR2.99 billion, Rua Al Madinah Holding aims to develop a comprehensive hospitality and retail ecosystem that further enhances the inclusive and communal nature of Madinah. Through diverse development projects and an ultramodern infrastructure that enrich the experience of both residents and visitors, the companys driving vision is to improve the quality of infrastructure and services according to the highest international standards. Rua Al Madinah Holdings strategy is fully aligned with the Public Investment Funds efforts to develop and enable promising sectors and help accomplish the Vision 2030 objective of bringing 30 million Hajj and Umrah pilgrims to the Kingdom by the year 2030.
Bethesda, MD – WEBWIRE – Tuesday, March 14, 2023
Marriott Bonvoy, Marriott Internationals extraordinary portfolio of 30 hotel brands, award-winning travel program, and endless experiences, is bringing sports fans a host of epic experiences and stays in its seventh year as the Official Hotel Partner of the NCAA. This March, Marriott Bonvoy will once again welcome spectators during key basketball tournament events from Selection Sunday to The Final Four along with unique game experiences through the Marriott Bonvoy Moments platform, where members can redeem points to access sports, food, music and entertainment events across the country. Travel and sports are both about connecting people and creating lasting memories, and were beyond excited to continue our partnership with the NCAA to help fans make the most of what are sure to be unforgettable tournaments, said Julius Robinson, Chief Sales and Marketing Officer, U.S. & Canada, Marriott International. Through Marriott Bonvoy Moments, we can connect members with a breadth of unique experiences something for every kind of fan tailored to their interests, during March Madness events and beyond. March Madness is one of the most anticipated sports travel occasions of the year for our basketball fans, student-athletes and others involved with participating colleges and universities, so we are thrilled to partner with Marriott Bonvoy to ensure they have a wonderful, unforgettable tournament experience, said Dan Gavitt, NCAAs senior vice president of basketball. When it comes to game day getaways, Marriott Bonvoy has a hotel brand for every type of fan, from the courtside bucket-lister to the tournament road-tripper. Marriott Bonvoy hotels are ready to greet March Madness ticket holders with southern hospitality and exceptional service as they travel to the Womens Final Four championship in Dallas, Texas, for games on March 31 and April 2 and the Mens Final Four championship in Houston, Texas, for games on April 1 and April 3. Through Marriott Bonvoy Moments, members can redeem points earned through hotel stays and everyday spend to bid on unforgettable tournament experiences. This year, Marriott Bonvoy members can get close to the action by bidding on tickets to Sweet 16 and Elite Eight games for both the Mens and Womens basketball tournaments, as well as unprecedented Final Four and championship experiences: For more travel destination inspiration, visit www.marriottbonvoy.com. About Marriott Bonvoy About the NCAA
Lake Como, Italy – WEBWIRE – Wednesday, September 21, 2022 Marriott International, Inc., today announced it has signed an agreement with Bain Capital Credit and Omnam Group to bring its EDITION Hotels brand to Lake Como. Owned and developed by Bain Capital and Omnam Group through a fund managed by Kryalos SGR, The Lake Como EDITION is slated to open in 2025 with 145 luxurious guest rooms, including two penthouse suites, a lively lobby bar, a floating pool, and multiple restaurants and bars overlooking Lake Como with breath-taking views of the Bellagio mountains. The property is a 19th century building located on the western shore of the prestigious Lake Como, a short drive from Central Milan. It will be converted into a luxury lifestyle destination that brings new life to Lake Como while honoring the intimate history of the building and its rich heritage.
We are excited to work with Bain Capital Credit and Omnam Group to introduce the EDITION Hotels brand to one of Italys most beautiful destinations, said Josh Fluhr, Senior Vice President & Managing Director, EDITION Hotels, Marriott International. Todays signing demonstrates guests continued demand for luxury accommodations and experiences.
We are delighted to launch The Lake Como EDITION with Omnam and Marriott International, said Fabio Longo, Managing Director, Bain Capital Credit. We seek to invest in under-penetrated real estate markets and the EDITION brand fills a gap in core leisure markets for differentiated luxury lifestyle hotels and enhances our real estate portfolio in Europe.
We look forward to bringing the Omnam flair to this unique location and celebrating the natural beauty of Lake Como, said David Zisser, CEO, Omnam. This is Omnams fourth development in Italy and, as always, our team strives to create new experiences while remaining true to the special heritage of our surroundings. Our goal is to create sophisticated luxury that invites everyone to experience and enjoy. Together with Bain Capital Credit, we are excited to team up once again with Marriott International and to bring this vision to life.
There is an incredible opportunity for hotel investments in Italy, not only in large tourist destinations like Rome and Milan, but in specific locations that have a strong appeal for guests that look for high quality services and unique experiences, said Paolo Bottelli, CEO of Kryalos SGR. At Kryalos, we are proud to support the entrance of this top brand to Lake Como.
EDITION Hotels committed to uncompromising quality, true originality and impeccable modern service continue to challenge traditional perceptions of luxury, and entrench EDITIONs position as an industry leader. Every EDITION hotel is unique, reflecting the social and cultural milieu of the time and place of its creation. Each new property is individually developed in collaboration with one of the worlds most eminent designers chosen specifically for that location and introduces original food and beverage concepts from internationally renowned chefs. The end result offers the best of dining and entertainment, modern luxury services and amenities “all under one roof. EDITION Hotels redefine the concept of luxury by offering an unexpected collection of one-of-a-kind hotels. The Lake Como EDITION is expected to further enhance Marriott Internationals footprint across Europe where it currently has a portfolio of over 719 properties with more than 137,500 rooms across 25 brands. EDITION Hotels currently operates 15 properties in locations around the globe including New York, West Hollywood, London, Reykjavik, Madrid, Tokyo, and Shanghai.
About Marriott International, Inc.
About EDITION Hotels
Each hotel, with its individuality, authenticity, originality, and unique ethos, reflects the current spirit and zeitgeist of its location. Although all the hotels look completely different from each other, the brands unifying aesthetic is in its approach and attitude to the modern lifestyle rather than its appearance. EDITION is about an attitude and the way it makes you feel rather than the way it looks. Sophisticated public spaces, finishes, design, and details serve the experience, not drive it. For an underserved market of affluent, culturally savvy, and service-savvy guests, the EDITION experience and lifestyle explores the unprecedented intersection and the perfect balance between taste-making design and innovation and consistent, excellent service on a global scale.
EDITION currently operates 15 hotels globally: New York and Times Square New York; London; Miami Beach; Tampa, Florida; West Hollywood; Barcelona; Bodrum; Shanghai and Sanya, China; Abu Dhabi, Dubai; Tokyo Toranomon; Reykjavik; and Madrid. Connect with us on Facebook and Instagram. Visit www.editionhotels.com.
About Bain Capital Credit
About Omnam Group
About Kryalos SGR
Marriott Bonvoy and NCAA® Celebrate March Madness® with Unforgettable Stays and Unparalleled Fan Experiences
Partnership grants Marriott Bonvoy members access to unrivaled game day moments
Marriott Bonvoy, Marriott Internationals award-winning travel program and marketplace, gives members access to transformative, eye-opening experiences around the corner and across the globe. Marriott Bonvoys portfolio of 30 extraordinary brands offers renowned hospitality in the most memorable destinations in the world. Members can earn points for stays at hotels and resorts, including all-inclusive resorts and premium home rentals, as well as through everyday purchases with co-branded credit cards. Members can redeem their points for experiences including future stays, Marriott Bonvoy Moments, or through partners for luxurious products from Marriott Bonvoy Boutiques. With the Marriott Bonvoy app, members enjoy a level of personalization and contactless experience that allows them to travel with peace of mind. To enroll for free or for more information about Marriott Bonvoy, visit marriottbonvoy.com. To download the Marriott app, go here. Travelers can also connect with Marriott Bonvoy on Facebook, Twitter, Instagram and TikTok.
The NCAA is a diverse association of more than 1,100 member colleges and universities that prioritize academics, well-being and fairness to create greater opportunities for nearly half a million student-athletes each year. The NCAA provides a pathway to higher education and beyond for student-athletes pursuing academic goals and competing in NCAA sports. More than 54,000 student-athletes experience the pinnacle of intercollegiate athletics by competing in NCAA championships each year. Visit ncaa.org and ncaa.com for more details about the Association and the corporate partnerships that support the NCAA and its student-athletes.Marriott International Signs Agreement with Bain Capital Credit and Omnam Group to Bring EDITION Hotels Brand to Italy’s Lake Como
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 8,000 properties under 30 leading brands spanning 139 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly awarded travel program. For more information, please visit our website at www.marriott.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.
EDITION Hotels is an unexpected and refreshing collection of individualized, customized, one-of-a-kind hotels which redefines the codes of traditional luxury. Displaying the best of dining, entertainment, services, and amenities all under one roof, each EDITION property is completely unique, reflecting the best of the cultural and social milieu of its location and of the time.
Bain Capital Credit is a leading global credit specialist with approximately $48 billion in assets under management. Bain Capital invests up and down the capital structure and across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, non-performing loans, and equities. Our team of more than 240 professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests across asset classes including private equity, public equity and venture capital, and leverages the firms shared platform to capture opportunities in strategic areas of focus. Visit www.baincapitalcredit.com.
Omnam (www.omnamgroup.com) is a diverse global real estate investor and developer with an incisive vision to source and develop iconic real estate assets. Omnams core expertise lies in medium to large-scale hotels, aparthotels, residential and mixed-use developments in Europe; its portfolio includes projects in The Netherlands, Belgium, France, and Italy. Connect with us on Instagram, and visit www.omnamgroup.com.
Kryalos SGR, active since 2005, is one of the primary players in the Italian real estate market. With 11.2 billion of Asset Under Management and a team of 105 professionals with in-depth experience in real estate (offices, logistics, retail, hotel, residential and healthcare), Kryalos SGR offers fund management, transaction management, development, advisory and credit management services and is a partner of Italian and international leaders. Visit www.kryalossgr.com.Ads
