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Saudi Arabia: Master developer Knowledge Economic City has formed a joint venture with Archipelago International to launch a hospitality management platform and hotel brand.
The joint venture’s first project includes the development of a hotel with approximately 2,500 keys – one of the largest hotel assets KEC will launch.
When complete, the hotel will debut as a new Saudi hotel brand, inspired by “national identity and the cultural spirit of Madinah”. The brand is structured for future growth through franchise and licensing models across the Kingdom.
The hotel will operate under a unified management model, creating direct and indirect employment opportunities within the sector.
Knowledge Economic City (KEC) is a publicly listed joint-stock company on the Saudi Exchange. It oversees a masterplan covering 6.8 million square meters within the boundaries of Madinah.
Archipelago International is a privately owned hospitality group with more than 45,000 rooms and residences in its portfolio.
One of Archipelago’s partners – short-term rental management platform Maison Privee – has also recently entered into a joint venture with KEC to introduce premium short-stay hospitality and property-management services within Medinah. Learn more from Maison’s managing director Paul Mallee here.
Highlights:
- Knowledge Economic City (KEC) and Archipelago International have created a joint venture to launch a new hospitality management platform and Saudi hotel brand.
- The JV’s first project is a landmark hotel of around 2,500 keys, one of KEC’s largest planned assets.
- Plans to scale the new brand via franchise and licensing models nationwide.
- The hotel will run under a unified management model, generating direct and indirect employment opportunities.
- Archipelago’s partner Maison Privee has also formed a JV with KEC to expand premium short-stay and property-management services in Madinah.
The post KEC and Archipelago form JV to launch Saudi hotel brand appeared first on Boutique Hotel News.
