The Rezidor Hotel Group, one of the fastest growing hotel companies worldwide and a member of the Carlson Rezidor Hotel Group, announces the Park Inn by Radisson Jeddah. The property featuring 350 rooms is Rezidor's 10th hotel in Saudi Arabia, bringing the group's portfolio in the country to 2,400 rooms in operation and under development. The new hotel is scheduled to welcome the first guests in Q4 2014.

"Saudi Arabia is a key development market for Rezidor. The country experiences continuous economic growth amid regional turmoil and global economic tremors. Its strong domestic market, its important religious sites in addition to a strong real estate sector and a healthy hospitality market, call for a strong hotel presence", said Kurt Ritter, President & CEO of Rezidor.

"We are pleased to work with Rezidor on this exciting new development in Jeddah, and look forward to our continued relationship and to future projects", said Abdulrahman Al Binali on behalf of Olayan Real Estate Company, the owner and developer of the hotel. The company is the real estate arm of The Olayan Group.

Jeddah lies on the Red Sea coast and is the second-largest city in Saudi Arabia, after the capital city Riyadh. The new Park Inn by Radisson will feature 250 rooms and 100 serviced apartments and will benefit from an excellent location on Al Madinah Road. It will have two restaurants and a lounge, 500sqm of meeting space, a fitness centre with outdoor swimming pool and a business centre. Being situated on one of Jeddah's main commercial roads, the hotel provides easy access to the shopping and commercial centers of the city. Jeddah's international airport is a short drive away and the holy cities of Makkah (65km) and Madinah (330km) are also within an easy driving distance.

Jeddah is an ethnically diverse city because of its role as gateway to Mecca for thousands of pilgrims from all over the world. Jeddah has a population of 3.5 million and is considered to be one of the major commercial centers of the country.