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Al Othaim Investment enters the hospitality sector with over 14 hotels

The new company will help Al Othaim Investment achieve its vision and future strategy of expansion by adding new activities

Al Othaim Investment enters the hospitality sector with over 14 hotels

In a move to expand and diversify its investment activities, Al Othaim Investment Company has launched a new company to operate in the hotel and hospitality sector. The recently announced company will join Al Othaim’s existing chain of companies, including, Abdullah Al Othaim Food Co. and, one of Riyadh’s popular shopping centre brands, Al Othaim Mall.

Meshaal Bin Omairah, CEO of Al Othaim Investment Company, stated that the new company will support the delivery and enhancement of its vision and future strategy of expansion by adding new activities through a series of projects that it is developing, and the modernisation of its existing projects.

Al Othaim Investment enters the hospitality sector with over 14 hotels

Al Othaim International Hotels

According to the CEO, there is a plan for the new hospitality company to establish more than 14 international hotels containing more than 2,000 units during the next two years. The company will also have elegant hotel apartments and modern commercial offices, pointing out that the necessary licenses have already been obtained.

Bin Omairah explained that the establishment of this new company comes in line with the Kingdom’s 2030 vision to develop the hospitality industry and develop Saudi tourism and make the Kingdom a major destination for visitors, pilgrims and investors.

He added that entering the hospitality sector is part of the company’s overall strategy and will help it grow its other businesses, such as commercial centres, real estate, entertainment, cinemas, fashion, and restaurants and cafes. Futhermore, the company plans to launch a global hotel brand and provide a variety of hospitality services, including world-class restaurants and other amenities, creating over 3,000 jobs directly and indirectly in various fields.