RIYADH: Saudi Arabia’s hospitality sector is on track for a major breakthrough as top developers used the Future Hospitality Summit held in Riyadh to outline their ambitious plans for the future. On the first day of the event, leading developers discussed new opportunities while sharing their insights on how they are working to propel the sector"s growth. Rua Al Madinah Holding is set to add 47,000 rooms in just seven years as the Public Investment Fund-owned firm is building the Rua Al Madinah Project, spread over an area of 1.5 million sq. meters on the east side of the Prophet’s Mosque. The company is aiming to facilitate 30 million visitors to the Kingdom by 2030, its CEO Ahmed Al-Juhani told a panel discussion titled “Industry leaders share their insight on how they are investing in change.” The CEO said: “We signed deals worth SR4.4 billion ($1.17 billion). We signed with major companies like Marriot agreeing to introduce eight brands, as well as Hyatt with three brands.” Another major player in the Kingdom’s hospitality sector is Diriyah Gate Development Authority, which has $63 billion of investments covering 14 million sq. meters, including 38 planned hotels, with 36 already signed, its CEO Jerry Inzerillo revealed. Elaborating on the uniqueness of the company’s workforce, he said 85 percent are Saudi nationals, of which 36 percent are women. While international hospitality brands are entering the Saudi market to offer new experiences to guests, James Riley, group CEO of Mandarin Oriental Hotel Group, said the Kingdom’s tradition is “a key aspect of the sector’s growth.” Riley added that his company is currently working closely with Al Faisaliah Hotel to introduce a new and luxurious product that will become “the leading hotel in Riyadh.” More than 100 speakers are set to address FHS Saudi Arabia, with the event focusing on the importance of sustainability, innovation, start-ups and human capital development. The conference is being held from May 7-9 at Al Faisaliah Hotel under the theme of “Invest in Change,” and will see contributions from a range of regional and international organizations, including NEOM, Rua Al Madinah Holding, and the Arab Institute for Women’s Empowerment.