TIME Hotels to increase hotel portfolio by 40 percent in MENA
TIME Hotels has outlined ambitious expansion plans to increase its portfolio by 40 percent to 21 properties throughout the UAE, Saudi Arabia, Egypt and Sudan. The announcement that comes ahead of the company’s participation at next month’s Arabian Travel Market will see an additional six properties added to TIME Hotel’s portfolio, with developments in Fujairah, Saudi Arabia, Sudan and three in Egypt.
As part of these expansion plans, TIME Hotels will expand in the UAE with the launch of the TIME Moonstone Hotel Apartments in Fujairah. The company will also add three new properties in Egypt, including the 117-key Marina Hotel & Convention Centre on the North Coast, which is expected to open later in Q2 2022. TIME will also open the 201-key five-star TIME Coral Nuweiba Resorts located on the Red Sea in Q3 2022. The final property in Egypt is the TIME Nakheel Deluxe Apartments, located in the New Capital. The 216-key property is scheduled to open its doors in Q1 2023.
Mohamed Awadalla, the co-founder and CEO of TIME Hotels, said: “Following the challenges of the last two years, we have seen unprecedented demand for additional rooms in key territories in the region. This, combined with our in-depth market research, has underscored the need for new, quality-driven, value accommodation. We have witnessed resounding success throughout the UAE, Egypt, and Saudi Arabia, and we feel now is the time to expand for the company's future success. With six new properties, totalling 781 keys, this is an important time for our expansion and growth both regionally and internationally.”
In Saudi Arabia, TIME has unveiled plans to open the 57-key TIME Express Al Olaya in the Saudi capital. The Riyadh property, which will target the budget-conscious traveller, will include a restaurant, a range of leisure amenities and a lively rooftop terrace with a shisha area and dining options.
Rounding out the new openings is TIME’s first foray into the Sudanese market with the TIME Ahlan Hotel Apartments in Khartoum. The 57-key property will be home to a coffee shop, meeting rooms, a rooftop terrace, a swimming pool, a gym, and a juice bar.