Taiba Signs Contract with Hilton Worldwide to Manage First Waldorf Astoria Hotel in Madinah

Taiba Investments Company announced on Wednesday the signing of a Contract with Hilton Worldwide to manage and operate the first hotel under the Waldorf Astoria brand in Madinah (currently Taiba Front Hotel), owned by Al Aqeeq Real Estate Development Company (owned by Taiba Company).

The Company explained that the operator receives a percentage of the revenues and a percentage of the total operating profit of the hotel for management and operation.

According to the statement published on “Tadawul”, the Contract Duration is 20 years, renewable.

Hilton Worldwide will manage and operate the Hotel under the Waldorf Astoria Brand, making it the first presence of this leading Hotel Brand in Madinah.

The Hotel is ideally located on the north of the Prophet’s Mosque with a direct view of it. The Hotel consists of more than 300 luxurious rooms and suites, two well-designed restaurants, two multi-purpose event halls, a dedicated meeting room to the business sector, in addition to a fitness centre. The Hotel is expected to open in 2028.

Taiba Investments expects the financial impact to be reflected after the completion of the Hotel in the fourth quarter of 2028.