RIYADH: Saudi Arabia’s tourism trade has surpassed expectations. The Kingdom hit its Imaginative and prescient 2030 purpose of attracting 100 million guests seven years early — reaching a file 160 million inbound and outbound vacationers in 2024.
However with success comes pressure — resort shortages, rising room charges, and hovering demand are testing the trade’s capability.
One man watching this transformation from inside is Muin Serhan, the Jordanian CEO of Amsa Hospitality, a Saudi-born firm that goals to redefine the mid-tier resort market. Having spent over 25 years within the Kingdom, Serhan has witnessed the nation’s speedy evolution firsthand.
Showing on the Arab Information present affairs program “Frankly Talking,” Serhan praised Saudi Imaginative and prescient 2030 and the transformation sweeping the tourism ecosystem — a change he describes as “huge.”
“I spent half of my age in Saudi Arabia, greater than 25 years,” he advised “Frankly Talking” host Katie Jensen.
“So I’ve seen the transformation of tourism specifically and the ecosystems in Saudi Arabia. “I can let you know (of) the huge adjustments taking place within the new Saudi Arabia, as we at all times name it.”
Muin Serhan, the CEO of Amsa Hospitality, a Saudi-born firm that goals to redefine the mid-tier resort market. (AN picture)
Saudi Arabia’s unique purpose of attracting 100 million guests by 2030 has now been eclipsed.
“We achieved 160 million guests inbound and outbound,” Serhan stated, citing latest research. “And the goal for 2030 is to achieve 150 million vacationers … I feel it’s achievable. We’re going to cross this 150 million with all of the strategic actions within the area.”
To fulfill surging demand, Amsa Hospitality has introduced bold enlargement plans. The corporate, launched in 2022 by founder and managing director Mohammad Alathel, goals to develop from 770 resort keys to greater than 10,000 over the subsequent seven to eight years.
“As we communicate, now we have 770 keys,” Serhan stated. “By subsequent 12 months, we are going to double this quantity to 1,500. The pipeline that now we have into tasks will land into the ten,000 keys.”
This progress, he stated, will primarily goal underserved areas past Riyadh and Jeddah. Amsa Hospitality’s technique is constructed on in depth analysis into 17 locations throughout the Kingdom, the place mid-tier lodges — sometimes four-star or higher three-star — are in brief provide.
“We adopted a really strategic, holistic strategy to the Kingdom, wanting into 17 locations the place we studied the provision and demand and constructed a spot evaluation,” he stated.
Among the many new places are Abha, Hail, and Al-Qassim — secondary markets with robust potential.
“We’ve seen an enormous potential in Abha, the place now we have one other resort. Now we have a resort already, which opened final 12 months. A future resort will open in Hail — one other futuristic vacation spot with an enormous potential for sport actions,” he stated, citing the recognition of Rally Hail as a significant draw for journey vacationers.
By 2027, Serhan expects Amsa to be prepared for an preliminary public providing, supported by the corporate’s increasing portfolio and growth pipeline.
Serhan believes Amsa’s give attention to mid-tier hospitality fills a vital hole within the Saudi market, balancing affordability and high quality at a time when many new lodges skew towards the ultra-luxury phase.
“There’s a large demand and it is a demand and provide story,” he stated. “That is regular in another vacation spot, in case you look to New York, to London, and in addition to to Dubai, we’re all kind of competing.
“Having stated that, there may be additionally a requirement for the five-star luxurious lodges in addition to the mid-tier, and right here we’re a significant participant.”
uin Serhan, the Jordanian CEO of Amsa Hospitality, talking on the Arab Information present affairs program “Frankly Talking.” (AN picture)
e added: “Not all shoppers are five-star or ultra-luxury. You continue to have to cater for the four-star and three-star, and even the resort condo case for many who wish to have more room.”
That tiered providing, he stated, is vital to Riyadh’s readiness for main world occasions comparable to Expo 2030, the FIFA World Cup 2034, and the completion of gigaprojects like Qiddiya and Diriyah.
“Diriyah will probably be that includes greater than 39 lodges. We may have certainly one of them,” Serhan stated. And transferring ahead in Diriyah two-stage, that’s in a future growth on a four-star tier.”
He added: “Going into one other venture, which is essential for us is Qiddiya, which can also be one other vital gigaproject, which options a number of leisure websites. That must be complemented by lodges to maintain the world.”
Amsa’s speedy progress, Serhan stated, wouldn’t be potential with out the corporate’s energetic and visionary Saudi possession.
“We’re lucky that we’re working with a really energetic possession,” he stated. “Our homeowners, we give them the imaginative and prescient that Amsa Hospitality is all constructed round sustainability … not solely in progress … (however) in the way in which we construct our lodges.”
From design to development, Amsa goals to weave sustainability and native id into each property.
“From the design idea, we develop our lodges to be distinctive, to have an area acceptance and an area inheritance as nicely,” Serhan stated.
“So we copy what’s available in the market, in Al-Qassim, for instance, in Hail, and now we have this narrative in our design. That turns into our design storytelling once we construct our lodges.”
The corporate’s give attention to Arabian hospitality — worldwide requirements with an area contact — is a key differentiator in an more and more crowded subject.
“Sure, we’re a world firm working on worldwide manufacturers, however with an area Arabic, Saudi hospitality service,” Serhan stated.
“For instance, what we do for a welcoming in Hail — we give that taste of Hail welcoming phrases … Even the way in which we serve, the uniforms we put on — all of it stands out.”
Saudi Arabia’s gigaprojects are reworking the map of tourism. For Amsa Hospitality, which means constructing capability not simply within the large cities, but additionally in new locations comparable to AlUla, Tabuk, NEOM, Al-Ahsa, and Al-Bahah.
“AlUla has its personal flavors and … the distinctive expertise with regards to the shopper journey,” Serhan stated. “We perceive it’s a bit faraway from the key cities, Riyadh or Jeddah. However these areas have their very own guests. Individuals who mainly need to be in AlUla and simply in AlUla.”
Muin Serhan, proper, and “Frankly Talking” host Katie Jensen. (AN picture)
Amsa is at the moment working with the Royal Fee of AlUla on plans to develop a 120-key four-star resort within the heritage-rich metropolis.
“On the coming Future Hospitality Summit, we’re going to announce the signing of 1 resort,” he stated. “It is going to be one of many flagships for us, with a singular model as nicely. And the model got here hand-in-hand with the vacation spot as itself. After which after three months, we’re going to announce one other resort. So I feel our portfolio, by quarter, will probably be growing by one asset.”
The corporate additionally has plans for developments in Makkah and Madinah, the place huge new districts comparable to Masar, Thakher, and Rua Al-Madinah are set to redefine spiritual tourism.
“Makkah has a well-known venture, Masar — I had the chance to stroll by way of this venture. It’s one thing out of this world,” he stated.
“Madinah is one other story to inform with future developments from Rua Al-Madinah apart from the event across the space.”
As Saudi Arabia prepares to host the world within the decade forward — from Riyadh Expo 2030 to the 2034 FIFA World Cup — the strain is on the non-public sector to ship. For Serhan, that problem is as a lot about id as it’s about infrastructure.
“As a hotelier, when now we have the imaginative and prescient that Saudi Arabian hospitality tourism ought to stand out from all different areas, that’s an entire cooperation now we have headed by the minister of tourism,” he stated.
“And this cooperation ended up delivering our core worth at Amsa Hospitality, for Arabian hospitality: To be distinctive.”
For Serhan, the journey is private. Having devoted a lot of his life to the Kingdom’s transformation, he views Amsa’s progress not simply as a enterprise success story, however as a mirrored image of Saudi Arabia’s personal evolution.
“All of us really feel proud that we’re a part of this success journey.”
