Millennium & Copthorne Hotels Middle East and Africa (MEA) plans to launch its Studio M brand in Riyadh.
The 145-key property is the first Studio M brand in the Middle East and will be centrally located in Riyadh on King Fahd Road and is due to open in Q2 -2015.
Whilst the Studio M brand aims to address the growing and relatively untapped ‘Generation Y’ regional market segment, it will also appeal to consumers of all ages who are “young at heart” and appreciate hip and contemporary design.
Ali Hamad Lakhraim Alzaabi, President & CEO, Millennium & Copthorne Hotels MEA said, “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,”.
The modern day concept, designed by world-renowned Italian architect and interior designer Piero Lissoni, 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 exciting new all-day dining concept called ‘At the M’. The centrally located development will also include a swimming pool, gym, pool deck as well as a number of retail outlets.
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.