Latest news with #FutureHospitalitySummit
Zawya
9 hours ago
- Business
- Zawya
Cape Town is Hot Property
Cape Town's hospitality and real estate industries are experiencing remarkable growth, reinforcing the city's current status as Africa's premier destination for tourism and investment. This surge bodes well for the upcoming Future Hospitality Summit Africa, the continent's most influential hospitality&tourism investment conference, which comes to 'The Mother City' on June 17-19. When destinations experience strong economic growth, they are typically a magnet for money, as investors are keen to come and see what's going on. Their presence has a knock-on effect of attracting top executives from developers, bankers, operators and brands, who are keen to meet their peers and discuss new opportunities. So, the organisers expect the Summit to be busy. The city's hotel sector has shown outstanding performance, with CoStar's April 2025 figures revealing an occupancy rate of 72.5%, the highest in South Africa. Revenue Per Available Room (RevPAR) climbed by 20.1% year-on-year, reaching ZAR 2,286.63 and the Average Daily Rate (ADR) reached ZAR 3,145.96, up 17.7% on 2024. According to Philip Wooller, Area Director for the Middle East and Africa at CoStar. He said: 'Cape Town's performance reflects a powerful rebound in demand and a growing confidence in the city's hospitality offerings. The consistent rise in both occupancy and RevPAR shows that Cape Town is not only back on the global travel radar—it's commanding a premium.' This strong performance extends across the Western Cape too. In April 2025 the province posted a 64.6% hotel occupancy rate, well above the national average of 56.3%. Cape Town's Luxury properties also performed particularly well then, achieving an impressive 66.2% occupancy—outpacing counterparts in other major South African cities. Cape Town's real estate market is experiencing a similar boom. In 2024/5, the average capital value of property reached R13,400/sqm, significantly higher than Johannesburg, and Pretoria. Wayne Godwin, CEO at JLL Africa, noted: 'We're seeing a convergence of factors driving the real estate upswing in Cape Town: a robust tourism pipeline, investor confidence, and a renewed focus on mixed-use and lifestyle-driven developments. The city's appeal is both emotional and financial—it makes sense to visit, and increasingly, it makes sense to invest.' In keeping with its reputation as an investment-grade forum, FHS Africa's agenda will focus on all aspects of hospitality investment and finance, as well as development, capital markets, dealmaking and the sector's most pressing issues and opportunities. In the hospitality industry, it is known as a networking hub for global industry leaders, major investors, and policymakers and is an event where substantial deals are often conceived and announced. 'We're seeing strong and sustained demand in Cape Town, driven by both international, and regional travel. This is creating meaningful opportunities for growth, particularly in the premium and luxury space. The anticipated addition of Morea House, Autograph Collection later this year reflects this momentum and the market's appetite for distinctive, high-quality hospitality experiences,' said Karim Cheltout, Senior Vice President, Lodging Development at Marriott International, Middle East and Africa. Andrew McLachlan, Founder&MD, Develop Hotels Inc (pictured), concluded: 'Cape Town is buzzing — I'm tracking over 40 new hotel projects, from boutique stays, aparthotels to urban resorts. With global brands and bold independents circling, FHS Africa couldn't be better timed to help investors, developers and owners align brand, business models and strategy for serious long-term value' Distributed by APO Group on behalf of The Bench. Further Information: For further information and high-resolution images, please contact: David Tarsh +44 (0) 20 7602 5262 +44 (0) 7770 816 070 Email: David@ About FHS Africa: For over a decade, the Future Hospitality Summit Africa (FHS Africa – formerly the Africa Hospitality Investment Forum) has been the launchpad for hospitality investment in Africa, driving growth, connecting visionaries, and transforming the continent's tourism and hospitality landscape. As a beacon of opportunity, FHS Africa brings together global investors, developers, operators, and industry leaders committed to turning potential into reality. Strategic Partners: Accor, BWH Hotels, Hilton, Marriott International, IHG Hotels&Resorts, Radisson Hotel Group Headline Sponsors: ACT, CHIC, Hansgrohe, TUI Hotels&Resorts Sponsors: Aleph Hospitality, CityBlue Hotels, EQUATE, Knight Frank, JLL, St Helena Government, STR, TIME Hotels, TV5 Monde, Valor Hospitality Partners Event Ambassadors: Develop Hotels Inc, Hotel Partners Africa, Voltere by Egis, W Hospitality Group Official Carriers: Discover Airlines, Kenya Airways Supported By: South Africa Tourism About The Bench: The Bench has a legacy of delivering world-leading investment forums and conferences in Europe, Africa, the Middle East, and Latin America. The key principle behind these events has remained "dealmaking'. Transforming the way businesses connect, Bench has developed a reputation for creating innovative and high-impact meetings for the industry. For over two decades, government leaders, tourism ministries, global travel&tourism associations, the world's most influential hospitality brands, hotel owners&investors, renowned restaurant groups, airlines&aviation authorities, destination developers, asset managers, financial groups, and consultants have been participating in The Bench's events. These include FHS Africa, FHS World, FHS Saudi Arabia and AviaDev, where industry players showcase their brands, position themselves as thought leaders or innovators, and connect with the right individuals, opportunities and knowledge. Learn more at
Syyaha
14-05-2025
- Business
- Syyaha
ASFAR and Minor Hotels Sign MoU to Blend Thai Hospitality with Saudi Heritage Across New Tourism Destinations in the Kingdom
• Strategic alliance champions sustainable tourism through the fusion of Thai hospitality excellence and authentic Saudi cultural experiences • Collaboration supports Saudi Arabia's Vision 2030 by accelerating economic diversification and unlocking the full potential of the tourism sector ASFAR, the Saudi tourism investment company and a PIF company, today announced the signing of a strategic Memorandum of Understanding (MoU) with Minor Hotels, a leading international hotel owner, operator, and investor with a strong footprint in Asia, the Middle East, and Europe, during the Future Hospitality Summit (FHS) in Saudi Arabia. This milestone builds on ASFAR's growing portfolio of hospitality investments and reinforces its commitment to shaping vibrant tourism destinations across the Kingdom. The signing ceremony was presided over by Dr. Fahad Bin Mushayt, CEO of ASFAR, and Amir Golbarg, Senior Vice President, Minor Hotels Middle East & Africa. This agreement marks another pivotal step in ASFAR's strategic drive to transform promising Saudi cities into vibrant tourism destinations. The MoU sets the foundation for introducing Minor Hotels' distinctive international brands into several high-potential locations across the Kingdom. The collaboration aims to deliver hospitality experiences that seamlessly fuse Thai service excellence with the richness of Saudi culture—enhancing guest journeys while reinforcing ASFAR's commitment to culturally grounded, globally competitive destinations. Dr. Fahad Bin Mushayt, CEO of ASFAR, said: 'This agreement with Minor Hotels is a strategic leap forward in our mission to unlock the full tourism potential of Saudi Arabia. By bringing globally respected hospitality brands into promising destinations, we're not only enriching our investment portfolio — we're also introducing unique guest experiences that blend the warmth of Thai hospitality with the depth and authenticity of Saudi culture. Together, we are shaping destinations that deliver on the promise of Vision 2030 and leave a lasting impact on communities, visitors, and the tourism landscape at large.' Amir Golbarg, Senior Vice President, Minor Hotels Middle East & Africa, commented: 'Saudi Arabia is rapidly emerging as a key global destination for tourism, and we are proud to partner with ASFAR to support the Kingdom's bold vision for the future. With more than five decades of hospitality expertise and a portfolio of distinctive brands, Minor Hotels is committed to crafting culturally rich, immersive experiences that reflect the unique heritage and dynamic ambitions of each destination. This partnership marks an exciting opportunity to contribute meaningfully to the Kingdom's evolving tourism landscape.' This MoU emphasizes a shared commitment to local content and community empowerment, with plans to integrate locally inspired designs, products, and experiences throughout the properties. This approach ensures that each destination will offer authentic experiences while creating sustainable economic opportunities for local communities. In alignment with Vision 2030's goals of economic diversification and sustainable tourism transformation, ASFAR and Minor Hotels will work together to establish hospitality offerings that enhance Saudi Arabia's appeal as a global tourism destination while preserving the unique character of each region. The agreement will focus on developing lifestyle-oriented properties that cater to evolving traveler preferences, with several projects planned across the Kingdom's most promising tourism destinations.
Hospitality Net
14-05-2025
- Business
- Hospitality Net
IHG Hotels & Resorts Launches Middle East's First EVEN Hotel with a Signing in Saudi Arabia
IHG Hotels & Resorts, one of the world's leading hospitality companies, has announced the signing of EVEN Hotel Dammam, bringing its lifestyle wellness-focused brand to the Middle East for the first time. The agreement was signed on the sidelines of Future Hospitality Summit (FHS) in Riyadh. As one of the only brands in its segment, EVEN Hotels' launch in the Middle East will redefine what it means to "travel well". Tailored through in-depth market research in the region and adapted to how today's traveller integrates well-being into their lifestyle, the brand reimagines wellness to be fulfilling, inclusive, and effortlessly personal. Whether guests want to energise, unwind, or reset, EVEN Hotels will offer the freedom to do it their way—from in-room wellness zones and craveable food and drink, to state-of-the-art fitness, recreation, and vibrant social spaces. Designed for travellers who want to live a full and rewarding life, even when on the move, EVEN Hotel Dammam will be the "third space" —a lifestyle destination featuring harmonious blend of adaptive spaces that evolve with guests' needs, seamlessly balancing productivity, relaxation, and connection. Each room will feature a signature wellness zone—offering a choice between in-room fitness gear or calming corners to unwind. Guests can enjoy a high-performance workout at Athletic Studio with zones for strength, cardio, and recovery, the Soul Studio for yoga and mindful movement, and rejuvenating rituals at the spa. Dining options will range from nutritious to indulgent, while social areas will flow seamlessly between connection and calm—creating space to work, relax, or reset. Inspired by biophilic design, EVEN Hotel Dammam will deliver a fresh take on wellness with lifestyle-led stays for guests who want to stay in sync with their rhythm. In partnership with Marassi Al Bahr Development Company; a subsidiary of Al Khaldi Holding group of companies, the 300-key hotel is set to open in January 2029. The hotel, conveniently located in the King Abdullah Civic Center in Dammam, will give guests direct access to government buildings, cultural institutions, and commercial zones, reinforcing the area's status as a growing civic and business hub. Dammam, the Eastern Province's commercial heart, offers immense potential for business and leisure travellers. With this signing, IHG continues to strengthen its presence in the Eastern region and align with Saudi Arabia's Vision 2030 tourism and lifestyle ambitions. EVEN Hotel Dammam signing marks the launch of the brand in the Middle East and paves the way for further regional growth. IHG currently operates 45 hotels across six brands in Saudi Arabia, including: InterContinental, Crowne Plaza, Holiday Inn, Staybridge Suites, and voco, with 47 hotels in the development pipeline set to open within the next three to five years. Hotel website
Tourism Breaking News
13-05-2025
- Business
- Tourism Breaking News
Future Hospitality Summit Saudi Arabia officially opens in Riyadh with over 1000 senior decision-makers, 200 investors and 150 expert speakers have convened in the capital for the 2025 edition
Post Views: 95 The Future Hospitality Summit (FHS) Saudi Arabia 2025 officially opened under the theme 'Where Vision Shapes Opportunity,' FHS Saudi Arabia, the Kingdom's most influential hospitality investment conference, bringing together hospitality leaders, investors and decision-makers to discuss hotel performance and development, the outlook for hospitality investment in the Kingdom and the key market trends driving the sector. The official opening remarks were delivered this morning by His Highness Prince Bandar bin Saud bin Khalid Al Saud, Secretary General, King Faisal Foundation (KFF) and Chairman of the Board of Directors, Al Khozama Investment Company. 'Hospitality in Saudi Arabia is no longer just about infrastructure or service – it's about identity, culture, talent, and future leadership. It is about creating opportunities for the people of this country to tell their story, and to shape the experience of those who come to discover it.' HH Prince Bandar bin Saud bin Khalid, Secretary General, King Faisal Foundation. The address was delivered in the distinguished presence of Mahmoud Abdulhadi, Deputy minister of tourism for destination enablement, Ministry of Tourism of Saudi Arabia, who also took to the stage to discuss 'Where Vision Shapes Opportunity'. The FHS Saudi Arabia program, which covers everything from start-ups to staffing and innovation to investment over three days, features 150+ speakers across 80 sessions in 18 different content tracks, covering key themes including Investment, Financing & Real Estate, Destination Development, Technology & Innovation, Sustainability & ESG, and Luxury, F&B and Experiential Hospitality. Jonathan Worsley, Chairman of The Bench, organizer of FHS Saudi Arabia, said: 'We are delighted to be back at the Mandarin Oriental Al Faisaliah, Riyadh, thanks to our host sponsor Al Khozama Investment and look forward to a very exciting few days of strong debate and valuable insights from the region's most respected and experienced leaders to help shape the future of our industry.' Khalid Saud AbuHaimed, Chief Executive Officer, Al Khozama Investment, commented: 'Our partnership with FHS reflects our belief in the power of hospitality to drive opportunity and excellence.' The event kicked off yesterday with the launch of the NextGen: Investment Forum, a brand new, first-of-its-kind event that tackled the key issues and opportunities surrounding education, training, and talent retention in Saudi Arabia's hospitality industry. With 1 million new tourism jobs predicted by 2030 and 320,000 new hotel rooms, investing in the next generation of leaders in hospitality is fundamental to delivering KSA's Vision 2030 goals. The action-packed agenda features a wide variety of session formats from main stage keynotes, panel discussions and exclusive leadership conversations, master classes, roundtable discussions and networking sessions. In addition to the main conference programme a record number of signing ceremonies for new projects and partnerships are set to take place this year, following USD$ 1.1 billion in business opportunities announced at FHS Saudi Arabia in 2024.
Arab News
13-05-2025
- Business
- Arab News
Radisson doubles down on Saudi Arabia with aggressive hotel expansion
RIYADH: Saudi Arabia now accounts for half of Radisson Hotel Group's Middle East portfolio, as the Kingdom cements its role as a global priority for the hospitality giant. The company currently has 100 hotels either open or under development across the region, with 50 of them located in Saudi Arabia, revealed Radisson's top executive in an interview with Arab News on the sidelines of the Future Hospitality Summit in Riyadh. The expansion aligns with Saudi Arabia's fast-growing hotel sector, as the Kingdom plans to add more than 362,000 new hotel rooms by 2030, backed by a $110 billion investment. Elie Younes, executive vice president and global chief development officer at Radisson, said: 'Saudi Arabia sits in one of the top five countries for us globally.' He said that of the 50 hotels in Saudi Arabia, 30 are open and 20 are under construction. Providing details and a timeframe for their planned 20 hotels in Saudi Arabia, Younes said the projects will be rolled out over the next three to four years, with an additional 30 hotels expected to open in the following three to four years. The new wave of properties will translate into approximately 4,000 to 5,000 rooms. 'If you multiply 20 by 200 to 250, you will get 4,000 to 5,000 rooms currently planned under construction in Saudi Arabia, which will eventually also make an economic impact because that will create job opportunities for approximately 5,000 people,' said Younes. Radisson is also ramping up its presence in the capital. The company recently opened Radisson Blu Minhal in Riyadh and plans to launch its third Radisson Collection hotel in the city soon. The Mansard Hotel, part of its urban portfolio, was noted as the brand's first resort in Riyadh. Service apartments under the Radisson Collection brand are expected to open in the next four months. The group sees strong potential across multiple segments. 'There is room for another 10 to 15 Radisson Blu hotels. As for Radisson Collection, which is our entry-level luxury brand, there will be fewer opportunities to grow it because of its luxury nature — maybe four or five more hotels. We already have three in Riyadh alone,' he said. Younes highlighted the scalability of the core four-star Radisson brand, particularly in smaller Saudi cities. 'We recently opened three of them here in Riyadh alone, and I think we could open at least or sign another 20 or 30 of them in the Kingdom across the next four to five years, focusing on places like Riyadh, Jeddah, Makkah, and Madinah… to some extent, and specifically, after that, in some of the secondary regional cities, where we also see opportunities for business development,' he explained. Commenting on global tariffs, Younes said it is difficult to assess the impact of what he described as a 'semi-political, semi-non-political' decision. 'We don't see that to have a direct impact in Saudi Arabia because — you have to remember that — over 50 percent of the travel industry in Saudi Arabia is domesticated in terms of traveling, and over 90 percent of investments in Saudi Arabia comes from Saudi Arabia,' he added. Younes also spoke about broader trends in the hospitality industry, including growing traveler volumes and a heightened focus on sustainability. 'I think we are very lucky and should be grateful to work in this industry because it is one of those ever-growing industries,' he said. He noted shifts in travel behavior as business and leisure increasingly merge: 'People going for a long business trip but integrating into that trip a little bit of fun, bringing the wife, bringing the kids, spending the extra day. Wanting to have fun.' The executive noted that operational challenges are mounting, driven by rising costs and technological disruption. 'The cost of labor going up. Inflation going up. The influence of artificial intelligence. All of these elements will push us and will result in us becoming more efficient,' he said. While artificial intelligence will likely shape back-end operations, Younes emphasized the enduring value of human service: 'The human touch will never go away. We all know that.' Looking ahead, he sees the convergence of hospitality and residential real estate as a key evolution in the sector. 'I see more integration and fusion between the conventional hospitality and residential real estate as we move forward to try and achieve all of these efficiencies and economies,' he concluded.
