Hotel major IHG signs up for two new Saudi properties
IHG has signed a management agreement for InterContinental Dammam and Holiday Inn Riyadh Al Malaz
Courtesy: Sam Bridge | News Source: arabianbusiness.com
InterContinental Hotels Group(IHG), which announced plans to open an office in Riyadh earlier this week, has signed for two new properties in Saudi Arabia.
Further strengthening its foothold in the luxury segment in the kingdom, IHG has signed a management agreement for InterContinental Dammam in partnership with Salem Mohammed Al Qahtani.
To cater to the need for more branded midscale accommodation in Riyadh, IHG said it has also signed a management agreement for Holiday Inn Riyadh Al Malaz in partnership with Saleh Alsalamah and Partner Companies.
Opening in 2024, InterContinental Dammam will be IHG’s first hotel in the city and will strengthen the company’s presence in the country's eastern region. It will feature 289 rooms and will feature three restaurants, an outdoor pool and deck, an indoor pool, a gym and six meeting rooms.
Opening later this year, the 121-room Holiday Inn Riyadh Al Malaz will be located in the city centre of Riyadh and will be the fifth Holiday Inn branded hotel in Riyadh. The hotel will also offer a pool, a gym, a business centre, meeting rooms and two restaurants.
Pascal Gauvin, managing director, India, Middle East & Africa, IHG, said: “Continuing our growth momentum in Saudi Arabia, we are pleased to add two new properties... Both brands are well established in the kingdom and in demand for existing guest segments visiting the country.
"In last 12 months, we have signed 10 hotels... We will also be opening an office in Riyadh to further drive our growth and performance in the country."
He added that Saudi Arabia is a priority market for IHG, with a current portfolio of 33 hotels (15,388 rooms) across six brands and 20 hotels (10,028 rooms) in the pipeline, set to open in the next 3-5 years.
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