Saudi Arabia’s Public Investment Fund (PIF) has launched Adeera, a groundbreaking hotel management company, to transform the Kingdom’s hospitality landscape. The initiative aims to create homegrown hotel brands, blending Saudi culture with global industry standards, and develop local talent in the sector.
Boosting Tourism with Saudi-Centric Hotel Brands
Adeera’s mission includes developing a portfolio of Saudi hotel brands catering to various market segments, from mid-range to ultra-luxury. By showcasing authentic Saudi culture, the company seeks to differentiate itself and attract diverse visitor categories. This move complements existing international hotel brands while fostering private sector engagement.
Khalid Johar, co-head of PIF’s Local Real Estate Portfolio, emphasized the pivotal timing of Adeera’s launch. “Saudi Arabia is rapidly expanding its hospitality and tourism offerings. Adeera’s focus on Saudi traditions gives it a competitive advantage,” he said.
Boosting Economic Growth and Diversification
Adeera’s establishment aligns with Vision 2030, Saudi Arabia’s blueprint for economic transformation. The initiative supports the Kingdom’s National Tourism Strategy, which aims to attract 150 million visitors annually by 2030 and ensure tourism contributes 10% of GDP. Last year, 106 million tourists visited Saudi Arabia, spending SAR 250 billion ($66 billion).
PIF has a broader tourism investments that include the Boutique Group, which transforms cultural palaces into luxury hotels, and Dan, an agritourism company. These efforts underscore PIF’s commitment to developing strategic sectors and fostering local talent through specialized training programs.
Strengthening Saudi Arabia’s Tourism Identity
Adeera seeks to elevate Saudi Arabia’s position as a global tourism destination. By collaborating with international experts and hotel developers, it aims to unlock new business opportunities and enhance the hospitality experience. This initiative highlights PIF’s role as a national enabler, driving sustainable growth and diversification.
Saudi Arabia’s ambitious tourism strategy, backed by over $800 billion in investments, is focused on attracting affluent visitors from China, India, and Europe. Adeera’s launch is a key milestone in realizing the kingdom’s tourism vision, showcasing authentic Saudi hospitality to the world.
