Patel Family Office and AHQ Launch US$1 Billion Hospitality Platform to Develop 50 Hotels in Saudi Arabia

The Dallas, TX-based investment enterprise Patel Family Office and Saudi industrial conglomerate Abdel Hadi A. Al-Qahtani & Sons (AHQ) have signed a USD$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. The deal was signed at FII PRIORITY Summit in Miami.

AYARA will deliver standardized, branded business hotels at scale, serving corporate travelers, project teams, consultants and regional headquarters across Saudi Arabia.

Under the terms of the deal, Patel Family Office will collaborate with Abdelmalik Tariq Al-Qahtani Company 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 to date.

Unlike traditional fragmented development models, AYARAʼs vertically integrated platform combines strategic land acquisition, modular construction, in-house furniture and fixtures manufacturing, and hospitality management. The unified structure will enable faster delivery and cost efficiency.

By 2029, ATQ Hospitality Groupʼs AYARA is expected to deliver between 5,000 and 7,000 rooms across key economic corridors including Riyadh, Jeddah, Dammam, and emerging development zones like NEOM and the Red Sea region.

Patel Family Office will lead the hospitality strategy for the portfolio and management of the hotel network, while AHQ will support development through its longstanding national operations and market expertise. ATQ Hospitality Group will also establish partnerships with international

hotel brands for the operation of the 50-hotel network, and with best-in-class delivery partners for project structuring and construction.

Speaking at FII PRIORITY Summit Miami, Patel Family Office Vice Chairman and Managing Partner Lakshmi Narayanan said, “As Saudi Arabia opens its doors to the world, its tourism and infrastructure expansion is attracting increasing global attention. The Kingdomʼs transformation is creating a new category of demand for reliable, practical and standardized business hospitality. Platforms like AYARA – combining global expertise with local execution – will play a critical role in meeting that demand. AYARA is positioned to become a foundational hospitality infrastructure platform supporting Saudi Arabiaʼs next phase of economic growth.ˮ

H.E. Abdulmalik Tariq Al-Qahtani, Chief Executive Officer of AHQ and Chairman of ATQ Hospitality Group, said, “It requires new partnerships and new approaches to deliver economic transformation at the unprecedented scale we are seeing in Saudi Arabia. By integrating construction, procurement and hotel operations in the AYARA platform, we are establishing a new standard for development speed and efficiency. With the support and expertise of our American colleagues at Patel Family Office, the ATQ Hospitality Group is ideally equipped to capitalize on this extraordinary growth opportunity.ˮ