Weather of Arabia - With the LEAP Technical Conference being held in the Saudi capital, Riyadh , today, Monday, hotels and accommodation facilities in the city have witnessed a noticeable increase in rental prices for hotel rooms since last week, with some of them reaching the amount of 100 thousand riyals. This increase is due to the international density of attendees at the technical conference, where the occupancy rate reached 100 percent, as the prices of some suites on hotel reservation sites for one day reached between 11 and 15 thousand riyals , and these prices indicate the urgent need for additional hotel projects in the Saudi capital, As a result of hosting notable international and regional events.
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Answer: The LEAP Conference is an international technical conference organized by the Ministry of Communications and Information Technology in Riyadh, the capital of the Kingdom of Saudi Arabia , in its first edition in 1443 AH/2022 AD under the slogan “Eye on the Future.” In cooperation with the Saudi Federation for Cybersecurity, Programming and Drones, the conference is concerned with the future of technologies and their role in enhancing humanity.
The conference's objectives revolve around enhancing Saudi Arabia's position on the international scene as a center for meetings and technical innovation, and enabling the latest global technologies to contribute to achieving Saudi Vision 2030. The conference also seeks to diversify the economy and increase the role of the digital economy in the Kingdom's domestic product.
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Majed Al-Assaf, who works in one of the prominent hotels in the city of Riyadh, pointed out in an exclusive interview with Al Arabiya.net huge changes this week, as the hotels witnessed a large influx of guests and visitors coming from various countries of the world to attend the LEAP 2024 exhibition in the city. He confirmed that the percentage of Occupancy reached 100%, especially by the giant technology companies participating in the exhibition, which booked all the hotel’s facilities, halls and restaurants to conclude deals and hold meetings.
He explained that the increase in room prices in Riyadh hotels during this week is due to increased demand due to the exhibition, as they rose from an average of 700 riyals to 2,200 riyals per room.
He pointed out that the hotel's revenue department uses artificial intelligence techniques to determine prices based on supply and demand, setting minimum and upper limits for daily prices, and adjusting the price based on changes in demand.
Regarding five-star hotels, he explained that they impose higher financial costs due to the services and high quality they provide, which leads to higher prices.
He pointed out that the hotel where he works provides high-quality services, including organic health supplies, bacteria and virus detection devices, in addition to distinguished cleaning services.
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