Hilton to Manage Fourth Riyadh Hotel
January 11, 2012 - Hilton Worldwide, a holding of The Blackstone Group, has signed a management agreement with Obeikan Real Estate Development Company to operate the Hilton Riyadh King Fahd Road. The 210-room property, Hilton Worldwide’s fourth hotel in Riyadh, is scheduled to open in 2014 and will be located next door to Kingdom Tower in downtown Riyadh near the Diplomatic Quarter and King Khaled International Airport. The new property will cater to high-end leisure and business travel, according to company executives. Hilton Worldwide currently operates six hotels in the Kingdom and has an additional 14 hotels under development.