Latest news with #DimitrisManikis
Skift
15-05-2025
- Business
- Skift
Inside Wyndham's Plan to Launch 100 Super 8 Hotels Across Saudi
We pointed out last year the lack of affordable hotels being built in Saudi Arabia. Wyndham wants to change that with 100 Super 8s in 10 years. Wyndham this week announced a plan to open 100 new hotels in Saudi Arabia in the next 10 years. All will be under the group's Super 8 brand, one of the most budget-friendly options in its portfolio, and a contrast to the string of luxury brands Saudi has signed in recent years. "I've always been saying that in order for the Kingdom of Saudi Arabia to meet its numbers and its targets and in order to provide a holistic hospitality model, it has to be inclusive, not exclusive," Wyndham's EMEA President Dimitris Manikis told Skift. According to Knight Frank, only 6% of Saudi's hotel pipeline is in the economy and midscale segments. Manikis called the plan a natural part of Saudi's evolution. "It's happening because the hospitality industry in the kingdom is going full cycle. It started with luxury. It's going into branded residences. It is going into the economy and the premium economy, where we come in. And it will do exactly what I've been saying all along. It will make travel possible for all." In May 2024, Saudi's tourism authority told Skift just 20% of the kingdom's eventual hotel supply would be four-star and above. What's the Timeline? The first Super 8 will open sometime next year, with Saudi hotel operator Le Park Concord running all the properties under a franchising deal. While 100 hotels is the goal, Manikis said just three hotels are being discussed right now. "At the moment, [Le Park Concord] is negotiating at least two or three," he explained. "And as they go along, the number will increase. Remember, the most important thing for me at this point is the proof of concept. The moment you will have the first two or three, and your proof of concept, again, the sky's the limit." Manikis expects a slow start after next year's debut, but then an acceleration as more people take notice. "You will see a phased approach and more traction as the years go by. So you'll see in the beginning, less growth. Because once we get the traction and once you prove the thesis and your hypothesis, you will see more coming every year. It's all about the proof of the hypothesis." Where Will They Be? The properties will be all over, including Riyadh, Jeddah, Makkah, Madinah, Al Khobar/Dammam, and surrounding areas. They will be placed wherever the most infrastructure development is happening, including highways that connect developed parts of the country. Manikis said: "Wherever the need is, and wherever there is an opportunity, as the infrastructure develops across the kingdom, this is where we're going to be focusing on developing those Super 8s." Around 30% of the hotels will be conversions of existing hotels and 70% will be new builds, Manikis explained. In particular, Wyndham sees a chance to stitch together Saudi's many unregulated hotels using the Super 8 brand. Unlicensed hotels are particularly prevalent in Saudi's holy cities, which drive the greatest tourism numbers. At the start of 2023, authorities announced they had closed more than 300 hotels and furnished apartments in Makkah and Medina for failing to comply with standards. "My belief is when people, owners will start seeing the success and the ease to convert of those Super 8s, I bet you there's gonna be a lot of demand for those independent, smaller properties to get the right funding and convert their brand to a Super 8, or convert the hotel to a Super 8 brand," Manikis said. What About Funding? Unlike most large-scale hotel signings you see in Saudi, Wyndham's is being done without public sector funding. While building a Super 8 is cheaper relative to other brands, when done en masse, the costs will add up. Manikis wouldn't give a price tag for 100 potential hotels, but said Le Park Concord will be announcing a fund in the coming days. "They're putting together a real estate fund, a REIT, in order to support the development of those Super 8s. So they have the buckets, they have the funders, they have the plan." Not only is Wyndham bucking the trend by seeking private investment, Manikis said he's purposefully steering away from government funds. He said: "At the moment, the government is actually limiting its exposure from a funding perspective. So, while it has the tick of the box from the government, we don't depend, or our partners do not depend on the government funding. They have their own source of funding. And actually, to be fair, that's a business model that has more longevity and validity because it's all investor-driven."
Tourism Breaking News
15-05-2025
- Business
- Tourism Breaking News
Almosafer and Wyndham Hotels & Resorts announces new partnership to expand global hospitality network
Post Views: 93 Almosafer has announced a strategic partnership with Wyndham Hotels & Resorts. The agreement will expand Almosafer's global hotel portfolio, giving travellers from Saudi Arabia and beyond direct access to over 9,300 Wyndham properties across 95 countries. This collaboration strengthens Almosafer's mission to offer seamless travel experiences in line with Saudi Vision 2030, which aims to position the Kingdom as a premier global tourism hub. As part of the direct connectivity agreement, Almosafer will integrate Wyndham's extensive portfolio of 25 iconic brands into its omni-channel platforms. This includes beloved names like Ramada, Days Inn, and La Quinta, offering travellers a diverse range of accommodations—from budget-friendly stays to upscale resorts. The partnership allows Almosafer's customers to access real-time hotel inventory, competitive pricing, and streamlined booking through its digital platforms. With the largest and widest collection of hotel experiences in the world, Wyndham Hotels & Resorts' mission of making hotel travel possible for all aligns with Almosafer's aim to cater to the travel needs of people from Saudi Arabia and beyond as the Middle East's leading travel brand. Muzzammil Ahussain, Chief Executive Officer of Almosafer, said: 'Strategic partnerships and collaborations are key to our global reach and resilience. By integrating the offerings of the world's largest hotel franchising company, Wyndham Hotels & Resorts, to Almosafer's omni-channel platform, we seek to enhance the travel experience for our customers. Hospitality brands are integral to the overall travel experience. Almosafer prides itself on offering a seamless booking process encompassing one-touch access to world-class hospitality and airlines, providing a comprehensive package to customers.' Dimitris Manikis, President EMEA, Wyndham Hotels & Resorts, said; 'At Wyndham Hotels & Resorts, our mission goes beyond making travel possible for all—it's about delivering the right brands in the right markets to create meaningful experiences for travellers while driving value for our hotel owners. By partnering with Almosafer, the Middle East's leading travel platform, we're making it easier for more travellers to access our diverse hotels—whether they're seeking a budget-friendly stay, a business hub, or an upscale retreat. This collaboration also brings the benefits of Wyndham Rewards to more regional travellers, offering greater affordability, accessibility, and a consistently rewarding experience.'
Hospitality Net
14-05-2025
- Business
- Hospitality Net
Wyndham and Le Park Concord to Launch 100 Super 8® Hotels Across Saudi Arabia in Landmark 10-Year Deal
Wyndham Hotels & Resorts, the world's largest hotel franchising company with approximately 9,300 hotels spanning more than 95 countries, has entered into an exclusive development agreement with Le Park Concord Company to launch its iconic Super 8® by Wyndham brand in the Kingdom of Saudi Arabia. With plans to open 100 hotels over the next ten years, the agreement reinforces Wyndham's long-term commitment to quality, accessible and sustainable hospitality development in the region. The signing was executed with the active support of the Ministry of Tourism of Saudi Arabia, further underlining the initiative's alignment with the Kingdom's national tourism goals. Le Park Concord is a leading Saudi hotel operator and developer, currently managing over 900 rooms across 13 properties with an additional 13 hotels under development, expected to add more than 2,000 rooms to the company's growing portfolio. Bringing Super 8 to Saudi Arabia is a strategic move to make quality, affordable travel more accessible. As tourism accelerates and millions of travellers visit the country each year, the demand for dependable, budget-friendly accommodation continues to grow, whether you are travelling for business or leisure. Our collaboration with Le Park Concord allows us to meet that need by introducing a trusted brand in key cities and along major highways. We're excited to bring Super 8's signature blend of affordability, stylish comfort, and sustainable modern design to one of the region's most dynamic markets. Dimitris Manikis, President, EMEA, Wyndham Hotels & Resorts As Saudi Arabia undergoes rapid transformation under Vision 2030, Wyndham and Le Park Concord are set to meet the rising demand for quality, affordable lodging among both international visitors and a growing domestic traveller base. In 2024 alone, the Kingdom welcomed 30 million international tourists, a 9.5 percent increase from the previous year, and according to Saudi Arabia's Ministry of Tourism, that number is expected to reach 150 million annually by the end of the decade. As part of the deal, the first Super 8® hotel is expected to debut next year, 2026. Future locations are planned along the Kingdom's major highways and in key urban and transit hubs, including Riyadh, Jeddah, Makkah, Madinah, Al Khobar/Dammam, and surrounding areas. Many properties will feature smart modular construction and eco-conscious designs, aligning with both brands' focus on efficiency, sustainability, and guest comfort. Supporting a National Vision Saudi Arabia's strategic location, population growth, and increasing appeal to religious, leisure, and business travelers have made it a fast growing tourism destination. Despite this boom, branded economy accommodations remain underrepresented. According to Knight Frank, only 6% of the country's hotel pipeline is in the economy and midscale segments creating a significant supply gap that Super 8® is well-positioned to address. Saudi Arabia's tourism growth under Vision 2030 presents a clear need for more branded economy hotels. Our partnership with Wyndham Hotels & Resorts allows us to address this gap by combining local insight with strong and trusted international standards and the assurance of Wyndham Rewards, one of the world's most trusted loyalty programs. Together, we will offer affordable, quality stays to meet the needs of a rapidly expanding visitor base. Mr Fiaz Talal Alenezi, Chief Executive Officer, Le Park Concord Company The Wyndham Advantage Wyndham franchisees throughout the EMEA region benefit from the Wyndham Advantage – a combination of world-class marketing, distribution and other resources designed to put owners on the path to success. Inclusive of over $350 million (USD) in innovative technology investments since becoming a public company in 2018, owners have access to best-in-class technology from industry-leading providers, including next-gen property management systems, as well as a growing member base of over 115 million enrolled Wyndham Rewards members who make up more than a third of all check-ins globally. Globally recognized for both quality and value, Super 8 by Wyndham is one of the world's largest economy hotel brands, spanning multiple countries throughout the world. Just last month, Wyndham announced plans to introduce the brand to Spain and Portugal with 40 hotels slated to open across the two countries over the next 10 years. To learn more about Wyndham Hotels & Resorts, including franchising opportunities with brands like Super 8 by Wyndham, visit . About Le Park Concord Company Le Park Concord Company is a fast-growing hospitality group based in the Kingdom of Saudi Arabia, known for delivering personalised and heartfelt guest experiences. Since opening its first hotel in 2015, the company has expanded to 13 hotels and resorts across the Kingdom, with plans to grow to over 100 properties across Saudi Arabia and the wider region by 2030. Driven by a belief that true luxury is personal, warm, and meaningful, Le Park Concord blends high hospitality standards with continuous innovation. Every stay is a story, built on a foundation of thoughtful, authentic service. For more information, visit About Wyndham Hotels & Resorts Wyndham Hotels & Resorts (NYSE: WH) is the world's largest hotel franchising company by the number of properties, with approximately 9,200 hotels across over 95 countries on six continents. Through its network of nearly 885,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, Hawthorn Suites®, Trademark Collection® and Wyndham®. The Company's award-winning Wyndham Rewards loyalty program offers approximately 110 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit About Wyndham Rewards Named the number one hotel rewards program by readers of USA TODAY, Wyndham Rewards® is the world's most generous rewards program with more than 50,000 hotels, vacation club resorts and vacation rentals worldwide. Designed for the everyday traveller, members earn a guaranteed 1,000 points with every qualified stay and may redeem points for a wide range of rewards, including free nights at any of the approximately 9,100 hotels or tens of thousands of vacation club resorts and vacation rentals globally through affiliation with Wyndham Destinations and others. Wyndham Rewards has over 103 million enrolled members globally. Join for free today at You've earned this. ®
Yahoo
14-05-2025
- Business
- Yahoo
Wyndham and Le Park Concord to Launch 100 Super 8® Hotels Across Saudi Arabia in Landmark 10-Year Deal
Exclusive development agreement supports KSA's Vision 2030 while helping make travel more accessible throughout the Kingdom RIYADH, Saudi Arabia, May 14, 2025 /PRNewswire/ -- Wyndham Hotels & Resorts, the world's largest hotel franchising company with approximately 9,300 hotels spanning more than 95 countries, has entered into an exclusive development agreement with Le Park Concord Company to launch its iconic Super 8® by Wyndham brand in the Kingdom of Saudi Arabia. With plans to open 100 hotels over the next ten years, the agreement reinforces Wyndham's long-term commitment to quality, accessible and sustainable hospitality development in the region. The signing was executed with the active support of the Ministry of Tourism of Saudi Arabia, further underlining the initiative's alignment with the Kingdom's national tourism goals. Le Park Concord is a leading Saudi hotel operator and developer, currently managing over 900 rooms across 13 properties with an additional 13 hotels under development, expected to add more than 2,000 rooms to the company's growing portfolio. "Bringing Super 8 to Saudi Arabia is a strategic move to make quality, affordable travel more accessible. As tourism accelerates and millions of travellers visit the country each year, the demand for dependable, budget-friendly accommodation continues to grow, whether you are travelling for business or leisure. Our collaboration with Le Park Concord allows us to meet that need by introducing a trusted brand in key cities and along major highways. We're excited to bring Super 8's signature blend of affordability, stylish comfort, and sustainable modern design to one of the region's most dynamic markets." - Dimitris Manikis, President, EMEA, Wyndham Hotels & Resorts As Saudi Arabia undergoes rapid transformation under Vision 2030, Wyndham and Le Park Concord are set to meet the rising demand for quality, affordable lodging among both international visitors and a growing domestic traveller base. In 2024 alone, the Kingdom welcomed 30 million international tourists, a 9.5 percent increase from the previous year, and according to Saudi Arabia's Ministry of Tourism, that number is expected to reach 150 million annually by the end of the decade. As part of the deal, the first Super 8® hotel is expected to debut next year, 2026. Future locations are planned along the Kingdom's major highways and in key urban and transit hubs, including Riyadh, Jeddah, Makkah, Madinah, Al Khobar/Dammam, and surrounding areas. Many properties will feature smart modular construction and eco-conscious designs, aligning with both brands' focus on efficiency, sustainability, and guest comfort. Supporting a National VisionSaudi Arabia's strategic location, population growth, and increasing appeal to religious, leisure, and business travelers have made it a fast growing tourism destination. Despite this boom, branded economy accommodations remain underrepresented. According to Knight Frank, only 6% of the country's hotel pipeline is in the economy and midscale segments creating a significant supply gap that Super 8® is well-positioned to address. "Saudi Arabia's tourism growth under Vision 2030 presents a clear need for more branded economy hotels. Our partnership with Wyndham Hotels & Resorts allows us to address this gap by combining local insight with strong and trusted international standards and the assurance of Wyndham Rewards, one of the world's most trusted loyalty programs. Together, we will offer affordable, quality stays to meet the needs of a rapidly expanding visitor base." - Mr Fiaz Talal Alenezi, Chief Executive Officer, Le Park Concord Company The Wyndham AdvantageWyndham franchisees throughout the EMEA region benefit from the Wyndham Advantage – a combination of world-class marketing, distribution and other resources designed to put owners on the path to success. Inclusive of over $350 million (USD) in innovative technology investments since becoming a public company in 2018, owners have access to best-in-class technology from industry-leading providers, including next-gen property management systems, as well as a growing member base of over 115 million enrolled Wyndham Rewards members who make up more than a third of all check-ins globally. Globally recognized for both quality and value, Super 8 by Wyndham is one of the world's largest economy hotel brands, spanning multiple countries throughout the world. Just last month, Wyndham announced plans to introduce the brand to Spain and Portugal with 40 hotels slated to open across the two countries over the next 10 years. To learn more about Wyndham Hotels & Resorts, including franchising opportunities with brands like Super 8 by Wyndham, visit Images associated with the above release can be downloaded here. About Wyndham Hotels & ResortsWyndham Hotels & Resorts (NYSE: WH) is the world's largest hotel franchising company by the number of franchised properties, with approximately 9,300 hotels across over 95 countries on six continents. Through its network of approximately 907,000 rooms appealing to the everyday traveler, Wyndham commands a leading presence in the economy and midscale segments of the lodging industry. The Company operates a portfolio of 25 hotel brands, including Super 8®, Days Inn®, Ramada®, Microtel®, La Quinta®, Baymont®, Wingate®, AmericInn®, ECHO Suites®, Registry Collection Hotels®, Trademark Collection® and Wyndham®. The Company's award-winning Wyndham Rewards loyalty program offers over 115 million enrolled members the opportunity to redeem points at thousands of hotels, vacation club resorts and vacation rentals globally. For more information, visit About Le Park Concord CompanyLe Park Concord Company is a fast-growing hospitality group based in the Kingdom of Saudi Arabia, known for delivering personalised and heartfelt guest experiences. Since opening its first hotel in 2015, the company has expanded to 13 hotels and resorts across the Kingdom, with plans to grow to over 100 properties across Saudi Arabia and the wider region by 2030. Driven by a belief that true luxury is personal, warm, and meaningful, Le Park Concord blends high hospitality standards with continuous innovation. Every stay is a story, built on a foundation of thoughtful, authentic service. For more information, visit Forward-Looking StatementsThis press release contains "forward-looking statements" within the meaning of the federal securities laws, including statements related to Wyndham's current views and expectations with respect to growth and anticipated travel demands in the EMEA region. Forward-looking statements are any statements other than statements of historical fact, including those that convey management's expectations as to the future based on plans, estimates and projections at the time Wyndham makes the statements and may be identified by words such as "will," "expect," "believe," "plan," "anticipate," "predict," "intend," "goal," "future," "forward," "remain," "confident," "outlook," "guidance," "target," "objective," "estimate," "projection" and similar words or expressions, including the negative version of such words and expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, general economic conditions, including inflation, higher interest rates and potential recessionary pressures; the performance of the financial and credit markets; the economic environment for the hospitality industry; operating risks associated with the hotel franchising business; Wyndham's relationships with franchisees; the impact of war, terrorist activity, political instability or political strife, including the ongoing conflicts between Russia and Ukraine and conflicts in the Middle East, respectively; global or regional health crises or pandemics including the resulting impact on Wyndham's business, operations, financial results, cash flows and liquidity, as well as the impact on its franchisees, guests and team members, the hospitality industry and overall demand for and restrictions on travel; Wyndham's ability to satisfy obligations and agreements under its outstanding indebtedness, including the payment of principal and interest and compliance with the covenants thereunder; risks related to Wyndham's ability to obtain financing and the terms of such financing, including access to liquidity and capital; and Wyndham's ability to make or pay, plans for and the timing and amount of any future share repurchases and/or dividends, as well as the risks described in Wyndham's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission and any subsequent reports filed with the Securities and Exchange Commission. These risks and uncertainties are not the only ones Wyndham may face and additional risks may arise or become material in the future. Wyndham undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by law. View original content to download multimedia: SOURCE Wyndham Hotels & Resorts
Trade Arabia
14-05-2025
- Business
- Trade Arabia
Wyndham, Le Park Concord to launch Super 8 in KSA
Wyndham Hotels & Resorts has partnered with Le Park Concord Company to launch its Super 8 by Wyndham brand in Saudi Arabia. The agreement aims to open 100 hotels over the next ten years, demonstrating Wyndham's commitment to quality, accessibility, and sustainable hospitality development in the region. The Ministry of Tourism of Saudi Arabia supported the signing, ensuring that the initiative aligns with the country's national tourism goals. The signing took place at the Future Hospitality Summit (FHS) Riyadh 2025. Le Park Concord, a leading Saudi hotel operator, currently manages over 900 rooms across 13 properties, with an additional 13 under development. The first Super 8 hotel is set to open in 2026, with future locations planned along major highways and key urban and transit hubs. Many properties will feature smart modular construction and eco-conscious designs, promoting efficiency, sustainability, and guest comfort. Dimitris Manikis, President, EMEA, Wyndham Hotels & Resorts, said:"Bringing Super 8 to Saudi Arabia is a strategic move to make quality, affordable travel more accessible. As tourism accelerates and millions of travellers visit the country each year, the demand for dependable, budget-friendly accommodation continues to grow, whether you are travelling for business or leisure. Our collaboration with Le Park Concord allows us to meet that need by introducing a trusted brand in key cities and along major highways. We're excited to bring Super 8's signature blend of affordability, stylish comfort, and sustainable modern design to one of the region's most dynamic markets." Fiaz Talal Alenezi, Chief Executive Officer, Le Park Concord Company, said: 'Saudi Arabia's tourism growth under Vision 2030 presents a clear need for more branded economy hotels. Our partnership with Wyndham Hotels & Resorts allows us to address this gap by combining local insight with strong and trusted international standards and the assurance of Wyndham Rewards, one of the world's most trusted loyalty programs. Together, we will offer affordable, quality stays to meet the needs of a rapidly expanding visitor base.'
