InterContinental Hotels Group (IHG) has signed a master development agreement with Saudi Arabia's Dur Hospitality Company to franchise Holiday Inn & Suites-branded properties over the next five years in the country.
IHG chief operating officer India, Middle East & Africa Pascal Gauvin said: "We have been in Saudi Arabia nearly 40 years and as a key market for us it holds our largest pipeline in the Middle East. Working with the right partner can go a long way in building our brands' reputation in any market and we are delighted to be working with a major industry player such as Dur Hospitality Company.
"We are confident the partnership will lend great support to the growth of our Holiday Inn presence in the country and look forward to delivering great experiences to guests staying at the Holiday Inn hotels we jointly develop in KSA."
Dur Hospitality Company chairman Abdullah Bin Mohammed Al-Issa added: “Saudi Arabia is a very unique market and the tourism landscape is changing. We have been managing hotels in KSA for many years now and it is a change in direction for us to be working with an operator to develop this many hotels under one brand.”
“This investment is the result of a stellar business transformation programme for us and we are pleased to have launched our new identity last month with a strategic goal to create new partnerships with leading international hotel companies.”
“We have seen the success IHG has had managing hotels in KSA and it is clear IHG understands the market. We are confident our Holiday Inn hotels will add significant value to the city’s hospitality offering and provide guests with the comfortable, welcoming environment the brand is globally recognised for,” he added.
IHG currently operates 24 hotels in Saudi Arabia and is set to open an additional nine hotels in the next three to five years, including InterContinental Riyadh King Abdullah Financial District (KAFD) and Hotel Indigo Riyadh KAFD, which will mark the entrance of the Hotel Indigo brand into the Middle East market.
