AYARA Platform to Develop 50 Business Hotels Across Saudi Arabia by 2029

Patel Family Office and Abdel Hadi A. Al-Qahtani & Sons signed a $1 billion agreement to establish AYARA, a hospitality platform that will develop 50 branded business hotels in Saudi Arabia by 2029.

Patel Family Office, a US investment enterprise, and Abdel Hadi A. Al-Qahtani & Sons (AHQ) have entered into a $1 billion agreement to create AYARA, a vertically integrated hospitality platform that will develop a network of 50 international brand-name business hotels across Saudi Arabia by 2029. The agreement was signed at the FII PRIORITY Summit in Miami.

AYARA will deliver standardized, branded business hotels to serve Saudi Arabia’s corporate and business travel sector. Patel Family Office will collaborate with Abdelmalik Tariq Al-Qahtani Company (ATQ) Hospitality Group, an affiliate of AHQ, to launch and operate the platform. The planned 50-hotel network is among the largest individual hotel investment deals in Saudi Arabia to date.

AYARA is designed to address demand for branded mid-market business hotels, driven by corporate mobility, infrastructure development, and the relocation of regional headquarters. The platform will target corporate travelers, project teams, consultants, and regional headquarters across Saudi Arabia.

AYARA’s vertically integrated model will combine strategic land acquisition, modular construction, in-house furniture and fixtures manufacturing, and hospitality management to enable faster delivery and cost efficiency. By 2029, ATQ Hospitality Group’s AYARA platform is expected to deliver between 5,000 and 7,000 rooms across key economic corridors, including Riyadh, Jeddah, and Dammam, as well as development zones such as NEOM and the Red Sea region.

Patel Family Office will lead the hospitality strategy and management of the hotel network, while AHQ will provide development support through its national operations. ATQ Hospitality Group will establish partnerships with international hotel brands to operate the 50-hotel network and with delivery partners for project structuring and construction.

The agreement aligns with Saudi Arabia’s Vision 2030 program, which aims to diversify the economy beyond oil and attract over 150 million visitors annually by 2030. The program includes significant investment in infrastructure and new economic zones. Saudi Arabia is also scheduled to host major international events, including Expo 2030 and FIFA World Cup 2034, which are expected to increase demand from tourism and business travelers.

Recent reforms by the Kingdom’s Capital Market Authority include the termination of the Qualified Foreign Investor regime, aimed at expanding the investor base and increasing market liquidity. The collaboration between Patel Family Office and AHQ is positioned within the context of Vision 2030 and ongoing changes in Saudi Arabia’s investment landscape.