Amsa Hospitality is currently studying six new hotel projects in Riyadh, said CEO Muin Serhan
Amsa Hospitality Co. expects the occupancy rate at the Amsa Vue project in Riyadh’s Diplomatic Quarter to range between 75% and 77% during the first year of operation, CEO Muin Serhan told Argaam.
He added that the company’s operating and marketing plan for the project is based on managing the residential compound through annual, semi-annual, and monthly leases.
Serhan noted that this strategy was developed following a careful market study aimed at meeting the needs of different segments of residents and business professionals in the Diplomatic Quarter.
The CEO added that Amsa Hospitality signed a 20-year agreement with the Saudi Real Estate Co. (Al Akaria) to manage and operate Al Reef Residential Compound in the Diplomatic Quarter.
He explained that the revenue from the contract is estimated at about SAR 1.1 billion for Al Akaria, while the operator’s and developer’s operational shares range between 1% and 3% of the project value.
He noted that Al Reef project represents a pivotal phase in the journey of both Amsa Hospitality and Al Akaria, describing it as a milestone that will contribute to Amsa Hospitality’s accelerated growth in the coming period, enhance overall performance levels, and strengthen its marketing momentum and brand presence.
Serhan stated that Amsa Hospitality’s current business volume and revenues exceed SAR 250 million, adding that the company is developing several new hotels, expected to add around SAR 250 million in additional revenues by the end of 2026.
The company currently owns several hotels across different regions of Saudi Arabia, most notably the Radisson Hotel Riyadh Airport, which is considered one of the largest Radisson hotels in the Kingdom, in addition to Radisson Hotel Madinah, near the Quba Mosque, and Mercure Hotel Khamis Mushait, which is part of the Accor Group in Khamis Mushait.
Amsa Hospitality is also developing a new hotel in Qassim under the Handwritten Collection by Accor, which it considers one of the distinctive brands in the upper-midscale hotel segment.
Serhan said the company’s performance has been exceptional in recent periods, reflecting the strength of Saudi Arabia’s tourism market under Vision 2030. He described the market as highly promising and capable of enhancing investment returns for investors in the Kingdom’s hospitality sector.
He revealed that the company is currently studying six new hotel projects in Riyadh, noting that implementing these projects would represent a strategic turning point for the group in the coming years.
Regarding the expected demand for serviced apartments in Riyadh, Serhan said the capital is a first-class business city, making it one of the most prominent cities in the region in terms of hotel key demand.
He explained that there is a noticeable shortage of four- and five-star hotels, as well as upscale serviced apartments in Riyadh, expecting demand to continue rising in the coming years.
The CEO added that increased competition in the real estate and hospitality sectors is a healthy development, reflecting the market’s vitality and recovery in the Kingdom, particularly in Riyadh, which is witnessing significant urban and investment expansion.
Serhan pointed out that Amsa Hospitality specializes in developing and managing hotels under global brands such as Marriott, InterContinental, Hyatt, Radisson, and Hilton.
He noted that the company holds franchise agreements with major international hotel chains, granting it the rights to develop and operate hotels under these brands under preferential pricing and operational terms.
According to data available with Argaam, Al Akaria signed a lease agreement for Al Reef Residential Compound in Riyadh with Amsa Hospitality.
The compound is located in the heart of Riyadh’s Diplomatic Quarter, covering an area of about 40,000 square meters. It includes 240 residential units, comprising 176 apartments and 64 villas and townhouses, as well as a commercial gallery, with operations expected to begin in Q4 2026.
Amsa Hospitality is currently studying six new hotel projects in Riyadh, said CEO Muin Serhan
Amsa Hospitality Co. expects the occupancy rate at the Amsa Vue project in Riyadh’s Diplomatic Quarter to range between 75% and 77% during the first year of operation, CEO Muin Serhan told Argaam.
He added that the company’s operating and marketing plan for the project is based on managing the residential compound through annual, semi-annual, and monthly leases.
Serhan noted that this strategy was developed following a careful market study aimed at meeting the needs of different segments of residents and business professionals in the Diplomatic Quarter.
The CEO added that Amsa Hospitality signed a 20-year agreement with the Saudi Real Estate Co. (Al Akaria) to manage and operate Al Reef Residential Compound in the Diplomatic Quarter.
He explained that the revenue from the contract is estimated at about SAR 1.1 billion for Al Akaria, while the operator’s and developer’s operational shares range between 1% and 3% of the project value.
He noted that Al Reef project represents a pivotal phase in the journey of both Amsa Hospitality and Al Akaria, describing it as a milestone that will contribute to Amsa Hospitality’s accelerated growth in the coming period, enhance overall performance levels, and strengthen its marketing momentum and brand presence.
Serhan stated that Amsa Hospitality’s current business volume and revenues exceed SAR 250 million, adding that the company is developing several new hotels, expected to add around SAR 250 million in additional revenues by the end of 2026.
The company currently owns several hotels across different regions of Saudi Arabia, most notably the Radisson Hotel Riyadh Airport, which is considered one of the largest Radisson hotels in the Kingdom, in addition to Radisson Hotel Madinah, near the Quba Mosque, and Mercure Hotel Khamis Mushait, which is part of the Accor Group in Khamis Mushait.
Amsa Hospitality is also developing a new hotel in Qassim under the Handwritten Collection by Accor, which it considers one of the distinctive brands in the upper-midscale hotel segment.
Serhan said the company’s performance has been exceptional in recent periods, reflecting the strength of Saudi Arabia’s tourism market under Vision 2030. He described the market as highly promising and capable of enhancing investment returns for investors in the Kingdom’s hospitality sector.
He revealed that the company is currently studying six new hotel projects in Riyadh, noting that implementing these projects would represent a strategic turning point for the group in the coming years.
Regarding the expected demand for serviced apartments in Riyadh, Serhan said the capital is a first-class business city, making it one of the most prominent cities in the region in terms of hotel key demand.
He explained that there is a noticeable shortage of four- and five-star hotels, as well as upscale serviced apartments in Riyadh, expecting demand to continue rising in the coming years.
The CEO added that increased competition in the real estate and hospitality sectors is a healthy development, reflecting the market’s vitality and recovery in the Kingdom, particularly in Riyadh, which is witnessing significant urban and investment expansion.
Serhan pointed out that Amsa Hospitality specializes in developing and managing hotels under global brands such as Marriott, InterContinental, Hyatt, Radisson, and Hilton.
He noted that the company holds franchise agreements with major international hotel chains, granting it the rights to develop and operate hotels under these brands under preferential pricing and operational terms.
According to data available with Argaam, Al Akaria signed a lease agreement for Al Reef Residential Compound in Riyadh with Amsa Hospitality.
The compound is located in the heart of Riyadh’s Diplomatic Quarter, covering an area of about 40,000 square meters. It includes 240 residential units, comprising 176 apartments and 64 villas and townhouses, as well as a commercial gallery, with operations expected to begin in Q4 2026.
