Patel Family Office, a U.S. investment enterprise, and Abdel Hadi A. Al-Qahtani & Sons (AHQ), a Saudi industrial conglomerate, have signed a $1 billion deal to establish AYARA, a vertically integrated hospitality platform that will develop a network of 50 international brand-name business hotels across Saudi Arabia by 2029.
AYARA will deliver standardized, branded business hotels at scale, serving the kingdom’s booming corporate and business travel sector. Under the terms of the deal, Patel Family Office will collaborate with ATQ Hospitality Group, an affiliated company within AHQ, to launch and operate AYARA. The size of the 50-hotel AYARA network places the Patel Family Office-AHQ partnership among the largest individual hotel investment deals in Saudi Arabia, according to the release.
By 2029, ATQ Hospitality Group’s AYARA is expected to deliver between 5,000 and 7,000 rooms across key economic corridors including Riyadh, Jeddah, Dammam, and emerging develop
