Saudi firms Nazeel and PayTabs collaborate to empower the hospitality industry
PayTabs, the region’s award-winning payment solutions powerhouse, has announced a strategic partnership with Riyadh based ALIA ICT, an ICT service provider offering cloud-based hotel management software.
The objective of the collaboration between the two firms is to support and facilitate online payment acceptance for hotels, motels, chalets, resort chains, and real estate properties within the kingdom.
According to data published by Global News Wire, the Saudi Arabian hotel industry is driven by rapid economic growth, the development of real estate projects investment, and innovative construction.
The Kingdom also plans to grow the number of Hajj and Umrah tourists, as presently this is where the largest number of visits stem from, from 19 million in 2019 to 30 Million by 2030. The Saudi Arabian hotel market is projected to be worth over USD 24 billion by the end of 2025.