Millennium & Copthorne reveals Riyadh hotel

First Studio M brand in Middle East to open in Q2 2015

Studio M.
Studio M.

Millennium & Copthorne Hotels Middle East and Africa (MEA) has unveiled plans to launch its Studio M brand in Riyadh in partnership with Saudi owner Waseel Properties and developer Raseel Properties.

The 145-key property is the first Studio M brand in the Middle East. It will be centrally located in Riyadh on King Fahd Road and is due to open in Q2 2015.

“In Waseel, Millennium & Copthorne has found a like-minded partner that recognises the potential return of developing and operating a stylish and innovative budget brand such as Studio M,” said Ali Hamad Lakhraim Alzaabi, president & CEO, Millennium & Copthorne Hotels MEA.

“Studio M is a very distinctive brand that addresses an under-represented segment of the regional market. In Riyadh, budget hotels account for just 10% of existing supply and only 1,000 rooms in the pipeline, compared to 7,000 for the upscale to luxury segments. We see tremendous potential for a contemporary budget brand, given that this existing market segment is too often represented by independent properties of variable quality,” added Alzaabi.

Designed by world-renowned Italian architect and interior designer Piero Lissoni, the concept has been created to appeal to smart and trendy corporate and leisure travellers, offering stylish and tech-driven functionality.

Studio M Hotel, Riyadh by Millennium” features contemporary signature design, dedicated meeting facilities and an all-day dining concept called ‘At the M’. The development will also include a swimming pool, gym, pool deck as well as a number of retail outlets.

“Studio M is a very distinctive brand that addresses an under-represented segment of the regional market. In Riyadh, budget hotels account for just 10% of existing supply and only 1,000 rooms in the pipeline, compared to 7,000 for the upscale to luxury segments. We see tremendous potential for a contemporary budget brand, given that this existing market segment is too often represented by independent properties of variable quality,” said Alzaabi.

Millennium & Copthorne has also identified a number of other prime locations in Abu Dhabi, Al Khobar and Jeddah for the innovative budget brand and is already in negotiations for further sites in Doha and Dubai, both of which are at an advanced stage, completing the line-up for up to six properties signed and or launched by 2017.

“Considering the current investor interest, we estimate that the brand will develop beyond these initial sites to as many as 20 locations within the next five years and we are looking forward to attracting young, upwardly mobile, tech-savvy travellers to this brand proposition,” added Alzaabi.

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