Eager to boost its midscale portfolio in Saudi Arabia, InterContinental Hotels Group (IHG) recently formalised a management agreement with RIKAZ Properties for its fourth Holiday Inn hotel in Al Khobar.
The new hotel, slated to inaugurate in January 2021, will be within arm’s reach of the King Fahd Causeway, making it ideal for business and corporate clientele. As well as 140 rooms, it will feature an outdoor pool, a lobby lounge, a selection of F&B outlets and a state-of-the-art gym.
Enthusing on the news, managing director – India, Middle East and Africa, IHG, Pascal Gauvin said: “We are delighted to sign an agreement with RIKAZ Properties for Holiday Inn Al Khobar King Fahd Road and strengthen our mainstream offering in the KSA. We have a strong legacy in the Kingdom and are committed to leveraging the growth opportunities that Vision 2030 presents by expanding our presence across the country through our portfolio of global brands. With a number of recent signings in Saudi Arabia, across our brands such as Holiday Inn, voco and Crowne Plaza, we are growing our presence in key cities and gearing up to cater to the needs of diverse guest profiles expected to visit the country in the coming years.”
Also commenting was chairman, RIKAZ Properties, Khalid Al Gahtani: “We are delighted to be partnering with IHG, a leading hospitality company, for our new venture. The Holiday Inn brand has an international appeal and we are confident that this latest hotel will perform successfully and cater to the increasing demand for midscale accommodation in the country. The focus for RIKAZ moving forward is to create a diversified portfolio which we believe is the key to success, and to develop key developments to support the diversification of the country overall.”
IHG operates 92 hotels spanning seven brands in the Middle East, including InterContinental, Crowne Plaza, Holiday Inn, Holiday Inn Express, Staybridge Suites, voco and Six Senses Hotels Resorts. A further 41 properties are in the pipeline and are expected to launch within the next three to five years.