Get to know the top 5 largest hospitality project investments in the world
Located on Riyadh’s Eastern Ring Road, a major corridor linking King Khalid International Airport with the downtown area, the new-build Hilton Riyadh Hotel & Residence in the Kingdom of Saudi Arabia will feature two towers; a 20-storey and a 14-storey tower. Once this project is completed later this year, it will feature an estimated 864 new rooms for guests. The total investment cost here is $844 million.
High Point is an 1,800-acre, mixed-use, master-planned community conveniently located 15 miles from downtown Denver and minutes away from the Denver International Airport. In addition to current and future development of up to 10 million square feet of business park development, 500,000 square feet of retail development, 1,600 single-family homes and 1,400 multi-family units. High Point is also the home to High Point Academy, a public K-8 charter school started in 2006 to serve residents of High Point with an award-winning educational option within the community.
The proposed resort by Gaylord Entertainment is expected to be open for business and initially feature guest rooms, 400,000 square feet of exhibition and meeting space, and an atrium setting offering panoramic views of the full Rocky Mountain vista, from Longs Peak down to Pikes Peak. Once completed, this project will have 1,500 rooms. The total investment cost here is $880 million.
DAMAC Towers by Paramount Hotels & Resorts is a hotel and residential complex located in the heart of the stylish Burj area, Dubai. This four-tower development will offer sumptuous living with a Hollywood flavour. A fourth tower will house the world’s first Paramount Hotel and Paramount Residences. Each of the four towers stretches over 250 metres in height, joined by a multi-level plaza. Once completed, this project will feature 702 rooms. The total investment cost here is $608 million.
The 800,000-square-foot hotel will span two 21-story towers, which will reach 242 feet and 237 feet, respectively. Some rooms will be a standard size — around 386 square feet — while other rooms will be 220-square-foot “innovation” rooms offered at a lower price point. The project will also include 120,000 square feet of meeting and event space, including three ballrooms; 40,000 square feet of retail space; and an 8,500-square-foot spa. Once completed, the project will have 1,055 rooms. The total investment here is $618 million.
This project has four total phases. Phases II & III will open at a different location, the site of the current Mariana Resort and Spa on the other side of the island (pending RFP and approvals). The much larger resort development will be built and refurbished incrementally through 2019 adding 1,200 rooms, 400 tables, and 1,000 slots in Phase III. The total investment here is $583 million.
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