Depends on what is underneath the leather of saddle. If you are going to attach the leather directly to the hard shell of the saddle (say on the underside edge of the saddle), I would consider Barge cement. This is a contact type adhesive that should be available at your favorite shoe repair shop. But be sure to try it on the surfaces first since some foams, etc tend to melt a bit.
Well, in my experience, hot glue stinks, and doesn't last. I'll ditto the barge cement, although I haven't used that exact product. I've had excellent results with regular contact cement. Follow the directions on the can.
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