Rua Al Madinah Holding signs hospitality deals worth $165 million to boost tourism | News
Rua Al Medina Holdinga subsidiary of the Public Investment Fund (PIF), announced the signing of two landmark hospitality agreements worth a combined US$165 million at the inaugural TOURISE Global Tourism Forum in Riyadh. The deals, signed with IHG Hotels & Resorts and Adeera Hospitality Management, mark an important milestone in the ongoing transformation of Medina’s tourism and hospitality landscape.
The first agreement between Rua Al Madinah Holding and IHG Hotels & Resorts will see the development and operation of two new hotels – Crowne Plaza Rua Al Madinah and Holiday Inn Rua Al Madinah – both strategically located just a stone’s throw from the Prophet’s Mosque. Together, the properties will add 2,334 guest rooms and create more than 1,300 jobs, significantly expanding Medina’s hospitality capacity. Crowne Plaza Rua Al Madinah will feature 1,280 rooms, three restaurants and state-of-the-art event facilities, while the Holiday Inn property will include 1,054 rooms, two restaurants, retail spaces and modern meeting spaces.
The second agreement with Adeera Hospitality Managementalso a PIF company, will see Adeera manage and operate 370 keys, including 250 premium hotel rooms and 120 luxury residential units within the Rua Al Madinah master project. This partnership underlines Rua Al Madinah Holding’s commitment to nurturing Saudi talent and supporting national companies alongside leading global brands in the sector.
In response to the occasion said Mr Naif bin Saleh Al Hamdan, Chairman of Rua Al Madinah Holdingsaid the similarities represent “another milestone in realizing the company’s vision to position Medina as a world-class destination that seamlessly combines authenticity and modernity.” He highlighted the company’s commitment to creating hospitality experiences that capture the spiritual and cultural essence of Medina while enriching visitors’ journeys.
Scary. Ahmed Al Juhani, CEO of Rua Al Madinah Holdingstressed that the partnerships align with the company’s strategy to diversify hotel brands within the project, adding: “This collaboration contributes to building an integrated hospitality ecosystem based on international standards and deeply reflective of Saudi identity and culture.”
Maher Abou Nasr, Managing Director for India, Middle East and Africa at IHG Hotels & Resortsexpressed pride in participating in the development of the Rua Al Madinah Project, noting that the new hotels will “provide world-class hospitality experiences for pilgrims and visitors from around the world.” Similarly, Stefan Lesser, CEO of Adeera Hospitality Management, said the partnership would “set new standards for refined hospitality, embodying the warmth and generosity inherent in Saudi culture.”
The announcement op TOURISM Riyadh 2025 – the world’s leading platform for shaping the future of tourism – strengthens the Kingdom’s commitment to innovation, investment and collaboration in the global travel sector. The agreements are a key part of Saudi Arabia’s Vision 2030 strategy to strengthen Medina’s position as a global destination that welcomes millions of visitors annually, while preserving its spiritual heritage and promoting sustainable development.
Rua Al Madinah – Shaping the future of hospitality.
