Marriott Signs With Nahdet Al-Mashaer for World’s Largest Fairfield by Marriott Hotel in Makkah, Saudi Arabia
Marriott International, Inc. (NASDAQ: MAR) today announced that it has signed a landmark agreement with Nahdet Al-Mashaer to open a 2,600-room Fairfield by Marriott property in Makkah. The agreement is expected to deliver the first Fairfield by Marriott property to the Middle East and Africa region, create the largest Fairfield hotel in the world and bring one of the largest hotels to the growing religious destination of Makkah. Construction for the Fairfield by Marriott Makkah Al Naseem has already commenced and the hotel is slated to open in 2023.
"We are thrilled to be working with Nahdet Al-Mashaer to create a distinctive Fairfield by Marriott that will serve Makkah, the sought-out destination for rising numbers of religious pilgrims," said Jerome Briet, Marriott International, Chief Development Officer, Middle East and Africa. "We expect this hotel will become a popular destination, especially given the strong demand for high-quality lodging in the Holy City."
The Fairfield by Marriott Makkah Al Naseem is set to rise in five towers in the Al Naseem district and in close proximity to the Grand Mosque. Plans call for 2,600 well-appointed spacious, modern suites that would separate areas for working and sleeping. The property's public spaces and lounge areas are expected to feature the Fairfield brand's "Modern Calm" aesthetic, which embraces open layouts, multi-functional space and natural light. Plans also call for signature amenities such as complimentary hot breakfast and coffee, fitness center and a lobby market open 24/7.
When it opens, the property is expected to welcome guests visiting on pilgrimage or business with friendly service and comfortable spaces that offer the flexibility to work and rest while staying productive on the road. The brand's Fairfield Guarantee delivers a simple promise to provide each guest with an inviting and effortless experience all at a great value. The Fairfield by Marriott brand currently has more than 1,000 open hotels in the U.S., as well as Latin America, Mexico and Asia.
"As a company, we remain focused on developing projects that further enhance Makkah as one of the most important destinations in Saudi Arabia while supporting the overall growth and development of the Kingdom," said Emad Hejazi, Chairman of Nahdet Al-Mashaer. "We are excited to collaborate with Marriott International to open the Fairfield by Marriott Makkah Al Naseem, which will be one of the largest hotels in the Holy City. The reliability of the Fairfield by Marriott brand, Marriott's world-class service standards and the central location of the property, will make it an ideal hotel destination for those visiting for Umrah and Haj when the property opens in 2023."
Saudi Arabia is currently Marriott International's second-largest market in the Middle East, with a portfolio that consists of 29 properties and over 8,000 rooms across nine brands and nine cities. The company expects to add 20 properties and more than 6,500 rooms across the Kingdom by 2024. Marriott's development pipeline is expected to generate 6,000 new jobs in the country.
Note on Forward-Looking Statements: This news release contains "forward-looking statements" within the meaning of federal securities laws, including the number of lodging properties Marriott may add in the future, the potential for growth in certain markets or sectors, and similar statements concerning possible future events or expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to a number of risks and uncertainties, including changes in market conditions; changes in global and regional economies; supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; the availability of capital to finance property growth and refurbishment; and other risk factors that Marriott identifies in its most recent annual report on Form 10-K or quarterly report on Form 10-Q. Any of these factors could cause actual results to differ materially from the expectations we express or imply here. We make these statements as of the date of this press release, and we assume no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.