Saudi Arabia’s Public Investment Fund (PIF) announced the launch of Adeera, a wholly owned hospitality management company to develop new hotel brands and strengthen the local hospitality sector. According to a PIF press release, Adeera will oversee and operate hotels, emphasising top industry standards and incorporating traditional Saudi hospitality.
Adeera plans to build a portfolio of Saudi hotel brands, targeting visitors across mid-range to ultra-luxury segments. It will focus on training and skill-development programs in partnership with international experts to boost local expertise. The move aligns with Saudi Arabia’s broader push to position itself as a key tourism hub, driving economic growth and increasing local private sector involvement.
“The launch of Adeera comes at a pivotal time when Saudi Arabia is expanding its hospitality and tourism offerings,” PIF’s Co-head of Local Real Estate Portfolio, Khalid Johar, noted. “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 move follows a series of PIF investments in tourism and real estate, including the Boutique Group for luxury palace hotels, the agritourism-focused Dan, and the tourism investment company Asfar. These efforts support the Kingdom’s National Tourism Strategy, aiming to attract 150 million visitors and generate 10% of GDP from tourism by 2030.
