Accor and Erth Real Estate announce three new luxury hotels as centrepiece of multi-branded luxury hospitality community in Riyadh
ACCOR SA SPNS/ADR (ACCYY)
NASDAQ:AMEX Investor Relations:
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Source: PR Newswire
RAFFLES RIYADH, MGALLERY RESORT RIYADH, AND SOFITEL EXTENDED STAY AT AL YASMIN DISTRICTRIYADH, Saudi Arabia, May 15, 2023 /PRNewswire/ -- Accor, a world-leading hospitality group, in partnership with Erth Real Estate Company, today announced that it will open three new hotels in Riyadh, Kingdom of Saudi Arabia, as part of a new master planned development project. The forthcoming luxury hospitality community will include a 230-key Raffles hotel, a 250-key Sofitel Serviced Residence, and a 60-villa MGallery resort, all set to open by 2027. The multi-faceted community will also include office towers, residential towers, and retail space, all built around a centrally located garden area.Erth Real Estate Company, the premium real estate developer across Saudi Arabia, is the owner and developer of the 4.2 billion Saudi Riyal mixed-use project at Al Yasmin District and has signed with Accor for hotel management within the two towers of this development. Accor will provide hotel management se
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