InterContinental Hotels Group has signed a Master Development Agreement (MDA) with business conglomerate Al Hokair Group which will see the debut of Holiday Inn Express brand in Saudi Arabia.
With a rollout of at least 10 Holiday Inn Express hotels over the next 15 years, this development complements IHG’s pipeline, reinforces its position in the country and consolidates its partnership with Al Hokair Group who operates six Holiday Inn hotels in Saudi Arabia.
The first Holiday Inn Express will be a 200-room hotel based in Jeddah, closely followed by openings in various key cities across the country. All 10 hotels will be operated under long-term franchise agreements.
Pascal Gauvin, Managing Director, India, Middle East and Africa, IHG, said: “IHG has a strong legacy in Saudi Arabia, which is a key market for us in the Middle East […] The tourism landscape in Saudi Arabia is rapidly changing and we are excited to leverage the huge growth opportunities that Saudi Vision 2030 presents, particularly given that one of the biggest pillars of the plan is to bring more tourism into the country.”
Sami Alhokair, Managing Director, Al Hokair Group added: “We are delighted to further strengthen our partnership with a global leader such as IHG […] this signing presents us with unprecedented opportunities to capture the volume segment.”
IHG said to be operating 31 hotels across four brands including InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn and Staybridge Suites in Saudi Arabia.
As of January 1, 2018, Hilton Worldwide had 5,348 hotels with a capacity of 798,075 rooms, according to data by Hospitality ON.
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