Seera completes 3 mid-range hotels, to open in 2021

Seera Group Holding  announced, on Tuesday, Dec.15, the completion of three hotels, which are set to open in 2021. 

Clarion Hotel (Jeddah Airport) will start operation in April 2021, Comfort Hotel & Suites Jeddah (King Abdulaziz Road, Jeddah) in March 2021, and Comfort Hotel Riyadh (Olaya Road) in November 2021, the firm said in a statement to Tadawul.

The three properties form the first batch under Seera’s renewed approach to financing hotel development, announced in July 2019.

Development of other properties, as mentioned in Seera’s previous plans, has been postponed due to the current coronavirus pandemic conditions, the statement said.

In July 2019, the travel services provider terminated a deal to set up a private real estate investment fund and changed strategy to developing mid-market hotels via the company’s internal sources and a bank financing facility at competitive terms, according to data available with Argaam.

In H2 2018, construction started on six hotels, namely, Olaya Hotel – Comfort (Riyadh), Media Hotel - Comfort (Riyadh), King Fahd Road – Quality (Jeddah), Heraa Road Hotel – Comfort (Jeddah), and Roshan Mall Hotel – Quality (Jeddah).

The six hotels were slated to add 1,000 rooms to the company’s portfolio.