InterContinental Hotels Group has signed a master development agreement with Saudi Arabian business conglomerate, Al Hokair Group.
The deal will see the debut of Holiday Inn Express brand in Saudi Arabia, with a rollout of at least ten Holiday Inn Express hotels over next 15 years.
This significant development, which was announced at Arabian Hotel Investment Conference, complements IHG’s robust pipeline in the kingdom and cements its position as one of the leading operators in the country, as well as consolidating its partnership with the Al Hokair Group.
Al Hokair Group currently operates six Holiday Inn hotels in Saudi Arabia.
As per the exclusive new agreement, 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 ten hotels will be operated under long-term franchise agreements.
Speaking on the announcement, Pascal Gauvin, managing director, India, Middle East & Africa, IHG, said: “IHG has a strong legacy in Saudi Arabia, which is a key market for us in the Middle East.
“We are proud to once again collaborate with our esteemed long-term partner, Al Hokair Group, to bring the Holiday Inn Express brand to the country, and further expand our offering to domestic and international travellers, alike.
“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.”
He added: We are the largest operator in Saudi Arabia with a strong portfolio of 31 hotels across four brands, offering specialized stay experiences to varied guests’ profiles, and with this signing, we are further extending our consumer appeal by offering quality, yet affordable accommodation for savvy travellers.”