Riyadh – Sharikat Mubasher: PIF announced the launch of its brand-new Hotel Management Company (Adeera), a company for hospitality management that aims to operate and manage hotels, combining the highest industry standards with timeless authentic Saudi hospitality.

Adeera, wholly owned by PIF, is poised to become a national leader in the Saudi hospitality sector, focusing on fostering local talent and expertise, according to a recent press release.

The company’s mission includes creating world-class Saudi hotel brands and bolstering the local hospitality industry through training and skills development programs in collaboration with international hospitality experts.

As Saudi Arabia strengthens its position as a premier tourism destination, Adeera plans to introduce a diverse portfolio of distinctive Saudi hotel brands. These brands will cater to a range of market segments, from mid-range to ultra-luxury, addressing the needs of various visitor categories.

The company also aims to unlock new business opportunities by emphasizing the Saudi hospitality experience and working with local hotel developers to maximize the private sector’s contributions.

Khalid Johar, Co-head of the Local Real Estate Portfolio at PIF, stated: “The launch of Adeera comes at a pivotal time when Saudi Arabia is expanding its hospitality and tourism offerings. The company has the opportunity to grow the sector by introducing new hotel brands as the country is establishing itself as a major tourism destination. Adeera’s unique focus on Saudi culture and traditions will provide a distinctive edge.”

The creation of Adeera highlights PIF’s commitment to advancing Saudi Arabia’s strategic sectors, driving economic growth, and diversifying the economy. This announcement follows a series of significant PIF investments in tourism and real estate, including the Boutique Group, which transforms historic palaces into luxury boutique hotels; Dan, an agri-tourism company; and Asfar, a tourism investment company.

These investments align with Saudi Arabia’s National Tourism Strategy, which aims to attract 150 million visitors and contribute 10% of the country’s GDP by 2030.