IHG® signs agreement with Al Hokair Hospitality for Holiday Inn Express® in Saudi Arabia
Posted on April 18, 2018
Dubai, United Arab Emirates, 18th April 2018: InterContinental Hotels Group (IHG®), one of the world’s leading hotel companies, has signed a Master Development Agreement (MDA) with Saudi Arabian 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 next 15 years. This significant development, which was announced at Arabian Hotel Investment Conference (AHIC), 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 10 hotels will be operated under long-term franchise agreements.
Speaking on the announcement, 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. 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 4 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.”
Sami Alhokair, Managing Director, Al Hokair Group added: “We are delighted to further strengthen our partnership with a global leader such as IHG®, who continue to be a trusted brand in Saudi Arabia. IHG’s portfolio aligns with our objective to strengthen our presence in the Kingdom as well as our commitment to Vision 2030. Holiday Inn Express® is world renowned brand, offering great value to the guests and, in the absence of an adequate supply of mid-market hotels to cater to the increasing demand, this signing presents us with unprecedented opportunities to capture the volume segment.”
There are currently 2600 Holiday Inn Express® hotels open across the globe, with a further 766 hotels due to open in in the next three to five years.**
**Figures as of December 31st 2017
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Notes to Editors:
About IHG® (InterContinental Hotels Group): IHG® (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global organisation with a broad portfolio of hotel brands, including InterContinental® Hotels & Resorts, Kimpton® Hotels & Restaurants, Hotel Indigo®, EVEN® Hotels, HUALUXE® Hotels and Resorts, Crowne Plaza® Hotels & Resorts, Holiday Inn®, Holiday Inn Express®, Holiday Inn Club Vacations®, Holiday Inn Resort®, avid™ hotels, Staybridge Suites® and Candlewood Suites®.
IHG franchises, leases, manages or owns more than 5,300 hotels and nearly 800,000 guest rooms in almost 100 countries, with nearly 1,700 hotels in its development pipeline. IHG also manages IHG® Rewards Club, our global loyalty programme, which has more than 100 million enrolled members.
InterContinental Hotels Group PLC is the Group’s holding company and is incorporated in Great Britain and registered in England and Wales. More than 375,000 people work across IHG’s hotels and corporate offices globally.
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About Al Hokair Group
Founded in 1975, under the leadership of Sheikh Abdulmohsin Al Hokair, Al Hokair Group boasts a portfolio of 90+ entertainment centres and 40+ hotels comprising more than 5500 rooms spread across KSA, and UAE. Occupying over 880,000 sqm of space and employing over 4000 experienced professionals, the group serves over 12 million people annually.
For more information about Al Hokair Group visit www.alhokair.com