The blaze broke out Saturday evening and the hotel was evacuated.
According to the sources, all victims are from Egypt.
The rescue operations are still underway and some of the wounded were taken to hospitals, Mahmoud Mohammad Khayat Medina’s Red Crescent spokesman said.
Several of the survivors suffered severe burns and some were treated for smoke inhalation. Some of the wounded are in critical conditions.
Medina is a modern city in the Hejaz region of western Saudi Arabia, and the capital of Al Madinah Province. It is the second holiest city in Islam after Mecca.
The major fire has renewed the call for enhanced safety standards in Saudi hotels, which host millions of pilgrims from around the globe every year.
RA/MB