Al Hokair Group is expanding its portfolio in Saudi Arabia, following the inking of a Master Development Agreement with InterContinental Hotels Group (IHG).
This new agreement will see the debut of IHG’s Holiday Inn Express brand in the country, with 10 properties expected to be developed over the coming 15 years.
Al Hokair Group currently has six operating Holiday Inn hotels in the KSA. The inaugural Holiday Inn Express property will be situated in Jeddah and will house 200 keys.
Managing director, Al Hokair Group, Sami Al Hokair enthused on the news: “We are very excited to expand our footprint in the mid-market segment where we see enormous potential for growth with a trusted global hospitality leader such as IHG. Holiday Inn Express is a world-renowned brand offering great value to the guests, and the signing of this strategic agreement will open unprecedented opportunities for us in the mid-market segment. This demonstrates our commitment to Vision 2030 and the development of the hospitality sector, which is a key growth driver in the Kingdom. We value our partnership with IHG and look forward to working with them on this ambitious project.”
Managing director – India, Middle East and Africa, IHG, Pascal Gauvin added: “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.”
IHG has a strong presence in Saudi Arabia with 31 properties in operation, spanning four brands: InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn and Staybridge Suites in Saudi Arabia.