Marriott International Signs Deal to Introduce The Luxury Collection to Saudi Arabia in 2020

USA, Bethesda, Maryland. November 25, 2019

Marriott International, Inc. (NASDAQ: MAR) has signed an agreement with Assila Investments to bring its Luxury Collection brand for the first time to the Kingdom of Saudi Arabia. Situated in the heart of Jeddah, Assila Hotel is anticipated to join The Luxury Collection's portfolio of more than 100 world-renowned hotels and resorts in 2020.

"We are thrilled to have Marriott International manage the beautiful Assila Hotel, under the Luxury Collection brand," said Bader Alissa, CEO, Assila Investments. "This only affirms Assila Hotel's position as a premier luxury hotel in Jeddah."

"We are delighted to announce plans for the first Luxury Collection property in Saudi Arabia, in collaboration with Assila Investments," said Alex Kyriakidis, President and Managing Director, Middle East & Africa, Marriott International. "This deal signing supports our plans to further diversify our footprint in the Kingdom while enhancing our overall luxury portfolio in the region."

Assila Hotel features 210 guestrooms, including a 590 sqm Royal Suite, and 94 apartments. It comprises multiple food and beverage venues, including a Café Lounge and Argentinian and Mediterranean specialty restaurants. The hotel also includes a 348 sqm ballroom and nine meeting rooms, as well as full-service recreational facilities such as a spa, fitness center and squash courts.

The hotel is situated on Prince Mohammed Bin Abdulaziz (Tahlia) Street, on the main commercial and retail strip of the city and within close proximity to the Corniche and many of the city's landmarks. The site is also within five kilometers of the planned ‘New Jeddah Downtown' development, a mixed-used project on Jeddah's five million square meter waterfront anticipated to launch in 2022. The waterfront corniche is expected to include residential, cultural and retail spaces.

This signing of Assila Hotel under The Luxury Collection also underscores Marriott's growing luxury portfolio in the Middle East, where the company now has more than 30 open luxury hotels, including The Ritz-Carlton Riyadh and The Ritz-Carlton Jeddah.

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