Assila Investments and Shangri-La Sign MOU for Management of New Luxury Hotel in Jeddah
Hong Kong, CH. - May 28, 2015. Shangri-La International Hotel Management Limited and Assila Investments have signed a Memorandum of Understanding in relation to the management and operation of a luxury hotel and residences development in Jeddah, the second-largest city in Saudi Arabia and the principle gateway to Mecca. Slated to open in early 2018, it will be the first Shangri-La in Saudi Arabia.
The 242-room hotel will be in a prominent 65-story development located on Jeddah Corniche Road facing the Red Sea. Shangri-La will also manage and provide services to the 122 residences in the tower. The hotel will feature three restaurants, function rooms, including a three-story grand ballroom, luxury spa and fitness areas, a swimming pool, children's club and several lounges.
The building's dramatic design, by global architecture and design firm Perkins+Will, was the recipient of the 2009 MIPIM Architectural Review 'Future Project Award' for 'Best Tall Building'. The tower is situated perpendicular to the shoreline to maximize water views and optimize solar exposure, and its exterior 'skin' features synthetic fabric architectural sails that shade the interior spaces, protect balconies from wind, maintain privacy and house LED lights that create a distinctive pattern over the surface of the building.
"We are excited about the prospect of developing the first Shangri-La branded hotel in Saudi Arabia and look forward to working closely with the Shangri-La team to bring its renowned hospitality to Jeddah," said Abdullah Alissa, CEO of Assila Investments.
"Jeddah is both an important commercial hub and Saudi Arabia's primary resort city," said Greg Dogan, president and CEO of Shangri-La. "By partnering with Assila, we will add another exciting and iconic property to our global collection of hotels and resorts and further strengthen our portfolio in the Middle East."
About Shangri-La Hotels and Resorts
Hong Kong-based Shangri-La Hotels and Resorts, one of the world's premier hotel companies, currently owns and/or manages 90 hotels under the Shangri-La brand with a room inventory of over 37,000. Over four decades the group has established its brand hallmark of 'hospitality from the heart.' The group has a substantial development pipeline with upcoming projects in mainland China, Cambodia, India, Mongolia, Myanmar, Philippines, Qatar and Sri Lanka. For more information, please visit www.shangri-la.com.
About Assila Investments
Assila Investments (formerly known as MASC Holdings) is a diversified holding company with multi-billion interests across many industries, including banking, food, hospitality and real estate. Assila Investments is a closed joint-stock company owned by Mohammed Ibrahim Alissa and his family.
Media Contact:
Judy Reeves
Director of Public Relations, The Americas
[email protected]
212-382-3155
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
