Rua Al Madinah Holding, a subsidiary of the Public Investment Fund (PIF), has announced the signing of two landmark hospitality agreements worth a combined USD 165 million during the inaugural TOURISE Global Tourism Forum in Riyadh. The deals, made with IHG Hotels & Resorts and Adeera Hospitality Management, mark a significant milestone in the ongoing transformation of Madinah’s tourism and hospitality landscape.
The first agreement between Rua Al Madinah Holding and IHG Hotels & Resorts will see the development and operation of two new hotels — Crowne Plaza Rua Al Madinah and Holiday Inn Rua Al Madinah — both strategically located just steps from the Prophet’s Mosque. Together, the properties will add 2,334 guest rooms and create over 1,300 job opportunities, significantly expanding Madinah’s hospitality capacity. Crowne Plaza Rua Al Madinah will feature 1,280 rooms, three restaurants, and state-of-the-art event facilities, while the Holiday Inn property will include 1,054 rooms, two restaurants, retail spaces, and modern meeting areas.
The second agreement with Adeera Hospitality Management, also a PIF company, will see Adeera manage and operate 370 keys, comprising 250 premium hotel rooms and 120 luxury residential units within the Rua Al Madinah master project. This collaboration underscores Rua Al Madinah Holding’s commitment to nurturing Saudi talent and supporting national companies alongside leading global brands in the sector.
Commenting on the occasion, Mr. Naif bin Saleh Al Hamdan, Chairman of Rua Al Madinah Holding, said the agreements represent “a new milestone in realizing the company’s vision to position Madinah as a world-class destination that seamlessly blends authenticity and modernity.” He emphasized the company’s dedication to crafting hospitality experiences that capture the spiritual and cultural essence of Madinah while enriching visitors’ journeys.
Eng. Ahmed Al Juhani, CEO of Rua Al Madinah Holding, highlighted that the partnerships align with the company’s strategy to diversify hotel brands within the project, adding, “This collaboration contributes to building an integrated hospitality ecosystem based on international standards and a deep reflection of Saudi identity and culture.”
Maher Abou Nasr, Managing Director for India, Middle East, and Africa at IHG Hotels & Resorts, expressed pride in participating in the development of the Rua Al Madinah Project, noting that the new hotels will “deliver world-class hospitality experiences for pilgrims and visitors from around the world.” Similarly, Stefan Lesser, CEO of Adeera Hospitality Management, said the collaboration would “set new benchmarks for refined hospitality, embodying the warmth and generosity inherent in Saudi culture.”
The announcement at TOURISE Riyadh 2025 — the world’s premier platform for shaping the future of tourism — reinforces the Kingdom’s commitment to innovation, investment, and collaboration in the global travel sector. The agreements form a key part of Saudi Arabia’s Vision 2030 strategy to enhance Madinah’s standing as a global destination that welcomes millions of visitors each year while preserving its spiritual heritage and fostering sustainable development.
Rua Al Madinah — Shaping the Future of Hospitality.