Company Insights Seera Tourism Seera Overview Seera Group Holding is one of Saudi Arabia’s largest travel companies. Established in 1979 as Al Tayyar Travel Group and rebranded as Seera (meaning “journey”) in 2019, it has expanded from an airline ticketing agency to a strategic investment group with a diverse portfolio of businesses focused on travel, tourism and adjacent sectors. Seera’s subsidiaries include Almosafer Travel and Tourism Company, under which sit the destination management company Discover Saudi and the Hajj and Umrah business-to-business operator Mawasim. Seera owns the car rental company Lumi and was one of the early institutional investors in Careem in December 2014. It also had a stake in ride-hailing giant Uber Technologies, before selling it in 2024 and making more than double in profit. Seera also runs the Sheraton, Movenpick and CHME hotels and resorts businesses in Saudi Arabia, as well as the tech-led UK-based Portman Travel Group which specialises in luxury, business and sports travel. Seera News Tourism Saudi travel firm targets Chinese ahead of IPO Saudi Arabia is hoping to attract 5 million Chinese tourists by 2030 as part of a push that is also targeting Russia, Germany, Italy and the UK, leading tour operator Almosafer said on Wednesday, flagging a likely IPO within two years. “China is the top tourist source market and you really need to have a […] November 21, 2024 Finance Seera makes windfall gains from $101m Uber stake sale Saudi Arabia’s Seera Group Holding has sold its stake in ride-hailing giant Uber Technologies, making more than double in profit. The travel major, listed on the Saudi bourse, sold 1.25 million shares in Uber for SAR380 million ($101 million), making a substantial gain of SAR164.6 million. The divestment is part of Seera’s strategy, which was […] March 6, 2024 Tech Amazon to invest $5.3bn in data centres in Saudi Arabia Amazon Web Services (AWS), the cloud division of Amazon, is to invest $5.3 billion (SAR20 billion) in establishing data centres in Saudi Arabia. The move will allow customers to run workloads and securely store customer content within the kingdom, as well as offer high-speed access to users. “Today’s announcement supports Saudi Arabia’s digital transformation with the […] March 5, 2024 Tourism PIF and Seera fail to reach agreement on investment Saudi travel major Seera Group Holding has terminated plans for the Public Investment Fund (PIF), the kingdom’s sovereign wealth fund, to invest in its subsidiary, Almosafer Travel and Tourism Company. The termination comes after the two companies failed to reach an agreement, Seera said in a statement to the Saudi bourse. The statement clarified that […] March 4, 2024 Real Estate Seera Group invests $160m in Riyadh business park Saudi travel major Seera Group plans to invest SAR600 million ($160 million) in a real estate fund to finance the development of a new business park in Riyadh. Seera will be the primary investor in the Sharia-compliant fund with the aim of developing the Kayanat Central Business Park in the north of the Saudi capital. […] November 9, 2023 Finance Seera auto rental unit to float 30% on Tadawul Saudi Arabian travel company Seera Group Holding’s wholly-owned auto rental subsidiary plans to list 30 percent of its issued share capital on the Saudi Exchange (Tadawul). Car rental company Lumi expects to issue 16.5 million shares, with the listing taking place following regulatory approvals, the company said in its prospectus. Saudi Fransi Capital has been […] August 25, 2023 Construction Saudi firms scrap hotel joint venture as costs spiral A planned hotel joint venture between Saudi travel giant Seera Group and the AlUla Development Company (UDC) has been scrapped due to rising costs. The two parties have agreed to terminate the contract, due to “the futility” of the planned investment in a new hotel project in Saudi Arabia. In a filing to the Saudi […] June 7, 2023 Employment Highest earning Saudi executive paid $3.3m in 2022 With total earnings of $3.3 million, the chairman of Saudi Automotive Services Co was the highest paid executive of listed companies in the kingdom last year, as pay for senior officials and board members continues to rise. Ibrahim Al Hudaithi topped the list compiled by Saudi financial news platform Argaam, with total earnings of SAR12.4 […] April 13, 2023 Tourism Seera’s return to operating profit reflects Saudi tourism push Saudi travel giant Seera Group has announced its first operating profit since the coronavirus pandemic as the kingdom continues to emerge as a global tourism destination. Driven by the resurgence in demand for travel, Seera Group generated a gross booking value of SR9.3 billion ($2.5 billion) last year, nearly double the figure recorded in 2021. […] March 29, 2023 Tourism PIF eyes $400m investment in Saudi travel giant Almosafer Riyadh's Public Investment Fund could acquire a 30 percent stake in the tourism group, which has reported record growth in the second quarter September 13, 2022 Posts navigation
Tourism Saudi travel firm targets Chinese ahead of IPO Saudi Arabia is hoping to attract 5 million Chinese tourists by 2030 as part of a push that is also targeting Russia, Germany, Italy and the UK, leading tour operator Almosafer said on Wednesday, flagging a likely IPO within two years. “China is the top tourist source market and you really need to have a […] November 21, 2024
Finance Seera makes windfall gains from $101m Uber stake sale Saudi Arabia’s Seera Group Holding has sold its stake in ride-hailing giant Uber Technologies, making more than double in profit. The travel major, listed on the Saudi bourse, sold 1.25 million shares in Uber for SAR380 million ($101 million), making a substantial gain of SAR164.6 million. The divestment is part of Seera’s strategy, which was […] March 6, 2024
Tech Amazon to invest $5.3bn in data centres in Saudi Arabia Amazon Web Services (AWS), the cloud division of Amazon, is to invest $5.3 billion (SAR20 billion) in establishing data centres in Saudi Arabia. The move will allow customers to run workloads and securely store customer content within the kingdom, as well as offer high-speed access to users. “Today’s announcement supports Saudi Arabia’s digital transformation with the […] March 5, 2024
Tourism PIF and Seera fail to reach agreement on investment Saudi travel major Seera Group Holding has terminated plans for the Public Investment Fund (PIF), the kingdom’s sovereign wealth fund, to invest in its subsidiary, Almosafer Travel and Tourism Company. The termination comes after the two companies failed to reach an agreement, Seera said in a statement to the Saudi bourse. The statement clarified that […] March 4, 2024
Real Estate Seera Group invests $160m in Riyadh business park Saudi travel major Seera Group plans to invest SAR600 million ($160 million) in a real estate fund to finance the development of a new business park in Riyadh. Seera will be the primary investor in the Sharia-compliant fund with the aim of developing the Kayanat Central Business Park in the north of the Saudi capital. […] November 9, 2023
Finance Seera auto rental unit to float 30% on Tadawul Saudi Arabian travel company Seera Group Holding’s wholly-owned auto rental subsidiary plans to list 30 percent of its issued share capital on the Saudi Exchange (Tadawul). Car rental company Lumi expects to issue 16.5 million shares, with the listing taking place following regulatory approvals, the company said in its prospectus. Saudi Fransi Capital has been […] August 25, 2023
Construction Saudi firms scrap hotel joint venture as costs spiral A planned hotel joint venture between Saudi travel giant Seera Group and the AlUla Development Company (UDC) has been scrapped due to rising costs. The two parties have agreed to terminate the contract, due to “the futility” of the planned investment in a new hotel project in Saudi Arabia. In a filing to the Saudi […] June 7, 2023
Employment Highest earning Saudi executive paid $3.3m in 2022 With total earnings of $3.3 million, the chairman of Saudi Automotive Services Co was the highest paid executive of listed companies in the kingdom last year, as pay for senior officials and board members continues to rise. Ibrahim Al Hudaithi topped the list compiled by Saudi financial news platform Argaam, with total earnings of SAR12.4 […] April 13, 2023
Tourism Seera’s return to operating profit reflects Saudi tourism push Saudi travel giant Seera Group has announced its first operating profit since the coronavirus pandemic as the kingdom continues to emerge as a global tourism destination. Driven by the resurgence in demand for travel, Seera Group generated a gross booking value of SR9.3 billion ($2.5 billion) last year, nearly double the figure recorded in 2021. […] March 29, 2023
Tourism PIF eyes $400m investment in Saudi travel giant Almosafer Riyadh's Public Investment Fund could acquire a 30 percent stake in the tourism group, which has reported record growth in the second quarter September 13, 2022
