Cinépolis, the Fourth Largest Movie Theater Chain in the World has Partnered with Al Hokair Group and Al Tayer Group to Build Movie Theaters in Saudi Arabia
Las Vegas, USA (April 25, 2018) – Cinépolis, the 4th largest cinema exhibitor in the world and the largest in Latin America, announced today its upcoming entry into Saudi Arabia, in partnership with Al Hokair Group, a leading hospitality and entertainment operator in Saudi Arabia led by Sheikh Abdulmohsin Alhokair, and Al Tayer Group, one of the Middle East’s leading luxury and lifestyle retailers. Over the next 5 years, the joint venture plans to develop a regional presence of dominant market share across 15 of the key cities in Saudi Arabia. This venture will introduce Cinépolis’ world class cinema-going experience of high-touch theater concepts, including Luxury, Premium, Macro XE, 4D technology and kid-approved Cinépolis Junior auditoriums, to a country that is home to more than 30 million potential moviegoers.
This landmark venture is enabled by ‘Saudi Arabia’s Vision for 2030’; a multifaceted and progressive reform program led by His Excellency Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and First Deputy Prime Minister of Saudi Arabia focusing on stimulating and diversifying the country’s economy, and cultivating it to become a global investment powerhouse.
“We are privileged to be a part of something as extraordinary as contributing to Saudi Arabia’s Vision for 2030.” Cinépolis Global CEO, Alejandro Ramirez. “We,Cinépolis and our regional partner Al Tayer Group, couldn’t be more pleased to partner with Al Hokair Group, each of whom has the same mission to provide best in class service and experiences to customers. Cinépolis is proud and excited to be a part of this monumental transformation in Saudi Arabia.”
“Al Hokair Group has been at the forefront of tourism and family entertainment in the Kingdom for over five decades and is proud to be part of the Vision 2030 that is taking place.”, said Mishal Al Hokair, Deputy CEO & General Manager. “Our partnership with industry leaders Cinepolis and Al Tayer Group is a testament to our mission to contribute to the growth of entertainment in the Kingdom and the region.
“We are excited to be part of this historical moment through our partnership with Cinépolis and Al Hokair Group. We are confident that the market will enjoy an unparalleled experience in our theaters.” Humaid Ahmed Al Tayer – Vice President, Al Tayer Group
Cinépolis currently has projects in 3 other countries within the Gulf Peninsula. Its presence continues to grow within the region over the next 5 years across the UAE, Oman and Bahrain. The first location within these countries is due to open in early 2019.
About Al Hokair Group
Al Hokair Group is a name that has been tied the world of hospitality and entertainment for decades. To many, it has become the first name that comes to mind when tourism in Saudi Arabia or the Arabian world are mentioned. The group was started in 1975 to invest in the sectors of entertainment and hospitality under the leadership of Sheikh Abdulmohsen Al Hokair. Over five decades, the group’s projects expanded to include 91 entertainment centers and 36 hotels spread all over Saudi Arabia and United Arab Emirates, Egypt, Jordan and Turkey.
The group continues to develop its tourism investments to deliver the best of what top global companies offer by attracting expertise and establishing partnerships that enhance returns of investment and makes a difference in the fields of entertainment and hospitality.
About Al Tayer Group
Al Tayer Group, a family enterprise established in 1979, operates leading, quality-focused businesses in various sectors including Automotive, Retail, Real Estate, Construction, Healthcare, Logistics, Engineering and Manufacturing.
Cinépolis was founded in Mexico in the city of Morelia, Michoacán in 1971. Today it has positioned itself as the world’s 4th largest movie theater circuit with, operating 657 cinema complexes, 5,371 screens and over 1,120,245 seats across 14 countries worldwide. Cinépolis is also the largest luxury cinema operator in the world. It was the first cinema exhibitor in the world to pioneer the concept of luxury movie theaters, establishing the first luxury theater experience in 1999 in Mexico City. Cinépolis aspires to provide its guests with the best overall experience in film entertainment and employs a global workforce of more than 37,600 people to support its mission. Cinépolis plans to continue to revolutionise the industry for years to come.