Smart Zone Hotel Company, a joint venture between Taiba Investments and Smart Zone Real Estate Company, sealed an agreement with Marriott International to operate a new Marriott Hotel in stc Square. This joint venture was initially formed between Dur Hospitality and Smart Zone Real Estate Company, with Dur Hospitality now being acquired by Taiba Investments.
Expected to open in 2027, the new Marriott Hotel will be developed by Smart Zone Hotel Company in Riyadh’s stc Square, a smart mixed-used project uniquely designed to be a smart community in alignment with the LEED V4 sustainable certificate, and developed by Aqalat Al Aqariya, stc Group’s real estate investment arm.
Riyadh Marriott Hotel Al Mursalat is anticipated to offer 159 modern rooms, leisure amenities and versatile meeting facilities. Emphasizing innovation, the property will enhance guest comfort and convenience, leveraging cutting-edge digital solutions to exceed premium industry standards.
Commenting on the agreement, Mr. Sultan Al-Otaibi, CEO of Taiba Investments and Chairman of Smart Zone Hotel Company, stated, “We are determined to bring to life distinctive properties, exemplified by the development of a new hotel in Riyadh’s stc Square, built from the ground up with high tech solutions. This hotel will be a unique property, resulting from the collaboration between Taiba Investments and AQALAT, seamlessly integrating hospitality and technology. By working with Marriott International, we are setting new benchmarks in the hospitality industry and strengthening our long-standing relationship. This new hotel supports our mission in promoting ultra-modern, sustainable, and high-standard developments across the Kingdom. We are excited to collaborate with AQALAT on this project, creating a unique blend of hospitality and technology that we believe will redefine excellence in the industry.”
Satya Anand, President, Europe, Middle East & Africa, Marriott International commented, “Our longstanding presence in Saudi Arabia has been built on the trust and vision we share with our owners, and we are delighted to work with Taiba Investments and stc on Riyadh Marriott Hotel Al Mursalat. With our existing operations and upcoming projects in Saudi Arabia, we have an incredible portfolio of properties that align with the diversity of travel experiences the Kingdom plans to offer as part of its Vision 2030 framework. Saudi Arabia continues to present exciting expansion opportunities for Marriott International, and we remain committed to supporting the growth of the country’s tourism sector.”
Earlier in 2023, Dur Hospitality signed an agreement with Smart Zone Real Estate Company to establish a joint venture – Smart Zone Hotel Company – to develop and operate a new hotel in Riyadh. The new operations agreement between Smart Zone Hotel Company and Marriott International represents a significant step forward in the project.
About Taiba Investments
Taiba Investments Co. (TASI: 4090), established in 1988, is a leading hospitality and real estate company headquartered in the Kingdom of Saudi Arabia. With a robust portfolio of 39 properties—including hotels, residential communities, and commercial plazas—Taiba manages over 7,700 keys and has an additional 20+ properties in development. The company excels in hotel operations, property and facility management, and real estate development and asset management. Taiba’s distinctive portfolio features renowned Saudi brands such as Aqeeq Hotels, Makarem Hotels, Nur by Makarem, and Dur Communities. Additionally, Taiba’s partnerships with international hospitality leaders such as IHG Hotels and Resorts, Marriott International, and Accor enhance its ability to provide exceptional service and diverse accommodation options. For more information, please visit www.taiba.com.sa.
About Smart Zone Hotel Company:
a JV between Taibah Investments and Smart Zone Real Estate Company to develop and operate a hotel in stc square.
About Smart Zone Real Estate Company:
The Smart Zone Real Estate Company (“stc Square” or the “Project”) is a limited liability company owned by stc, and is being developed and managed by AQALAT. The Project is an iconic and innovative mixed-use development, located in the heart of Riyadh City in Al-Mursalat district, sitting on a 120,730 sqm land.
About AQALAT:
“AQALAT”, a real estate investment arm of the stc group established in 2013, manages a vast portfolio of over 1,350 real estate assets spanning 18.7 million square meters. Among its notable projects is “stc square”, situated in the King Abdulaziz Telecom Complex in Riyadh. The company is actively developing smart buildings and a smart hotel that leverages cutting-edge smart city technologies to deliver unparalleled user experiences. It also leases and operates its promising projects.
To know more about “AQALAT”: Click here
About Marriott Hotels®:
With over 580 hotels and resorts in nearly 70 countries and territories around the world, Marriott Hotels continues to elevate the art of hospitality – placing people first is the brand’s living legacy – ensuring guests always feel deeply cared for throughout their stay. Marriott Hotels raises the bar by consistently delivering heartfelt service, with modern, comfortable spaces, and by providing experiences elevated beyond the everyday. As global travelers needs and expectations evolve, so does Marriott Hotels, leading the industry with innovations including the Greatroom lobby and Mobile Guest Services that embrace style, design, and technology. For more information, please visit www.marriotthotels.com, and stay connected on Facebook, @marriott on X, and @marriotthotels on Instagram. Marriott Hotels is proud to participate in Marriott Bonvoy®, the global travel program from Marriott International. The program offers members an extraordinary portfolio of global brands, exclusive experiences on Marriott Bonvoy Moments, and unparalleled benefits including free nights and Elite status recognition. To enroll for free or for more information about the program, visit marriottbonvoy.com.
About Marriott International:
Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 8,900 properties across more than 30 leading brands in 141 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly awarded travel program. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on X and Instagram.