The Public Investment Fund launches the hotel management company “Adera” #Urgent

Today, the Public Investment Fund launched the Hotel Management Company (ADERA).
The new company will specialize in managing and operating hotels, combining the highest standards of the sector with the authenticity of Saudi hospitality.

Hospitality sector

() – wholly owned by the Public Investment Fund – works to be a leading national company that leads the hospitality sector in the Kingdom and contributes to enhancing the expertise and skills of national competencies.
This comes through the development of new Saudi hospitality brands at international levels.

Training programmes

ADERA enhances the capacity building of the sector in the Kingdom by launching training and skills development programs in cooperation with international specialists in the field.
In conjunction with the Kingdom’s efforts to consolidate its position as a major tourist destination, Adera seeks to launch a group of distinctive Saudi hotel brands.
Hotel brands vary in their categories, from medium to luxury hotels, to suit different categories of visitors.
It will contribute to providing more business opportunities that focus on highlighting the Saudi hospitality experience.

Adira works with hotel developers

Adera intends to work with hotel developers to enhance the contributions of the local private sector in the Kingdom.
“The launch of Adera comes at a very important time,” said Khaled Johar, Associate Managing Director of the Real Estate Projects Portfolio at the Public Investment Fund.
He added: “This coincides with the Kingdom’s strengthening of its local hospitality and tourism offerings.”
He continued: “The company has the opportunity to develop the sector, by introducing new hotel brands that contribute to strengthening the Kingdom’s position as a primary tourist destination.”
He said: “The company’s focus on the Kingdom’s heritage and authentic traditions will provide it with special competitive advantages.”
The launch of “ADERA” confirms the pivotal role of the Public Investment Fund as a catalyst and enabler for developing the capabilities of strategic sectors, and a major driver for advancing economic transformation efforts in the Kingdom.
The announcement of the launch of the company comes as a continuation of a series of important investments in the tourism and real estate sectors, including the “Boutique Group,” which specializes in redeveloping historical and cultural palaces and turning them into luxury hotels, the Rural and Eco-tourism Resorts Development Company “Dan,” and the Saudi Tourism Investment Company “Asfar.”
This is in line with the National Tourism Strategy, which aims to attract 150 million visits and increase the tourism sector’s contribution to the gross domestic product to approximately 10% by 2030.