Louvre Hotels Group is to expand its portfolio of properties in Saudi Arabia to 47 by 2025.
The company, which currently has 16 hotels in operation, will add nearly 7,000 rooms, via its Campanile, Golden Tulip and Tulip Inn brands.
Saudi Arabia hopes to attract some 100 million visitors by 2030 and Louvre wants to increase its exposure to this growing market.
"Saudi Arabia represents a strategic market for our global development, due in great part to its focus on tourism and the extraordinary choice of destinations it offers. Launching Campanile, our midscale brand, in this region is a point of pride for us because we want to inaugurate an innovative yet affordable offer, able to satisfy local customers and international tourists alike,” Pierre-Frédéric Roulot, CEO Louvre Hotels Group, said.
Louvre isn’t the only business looking to expand its presence in the country, other companies are also piling in, making it one of the world’s fastest growing hotel investment markets.