Riyadh – Mubasher: Abdul Mohsen Al Hokair Group for Tourism and Development Company has signed a master development agreement (MDA) with InterContinental Hotels Group (IHG) to establish ten hotels of the brand Holiday Inn Express in the kingdom over the coming 15 years.
Under the deal, the first Holiday Inn Express will be in the Saudi city of Jeddah and comprise 200 rooms, the Saudi Arabia-based firm said in a statement on Monday.
All the ten hotels will be managed and operated via long-term franchise contracts, the tourism and development company noted.
“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,” Al Hokair Group’s managing director Sami Al Hokair said.
This transaction marks the first presence of Holiday Inn Express brand in the GCC nation, as well as strengths IHG’s investments and collaboration with Al Hokair Group.
“The tourism landscape in Saudi Arabia is rapidly changing and we are excited to leverage the huge growth opportunities that Saudi Vision 2030 presents,” IHG managing director for India, the Middle East, and Africa Pascal Gauvin said.
Gauvin noted that his firm is one of the main hotel operators in the kingdom with 31 hotels across the brands of Holiday Inn and Staybridge Suites, Crowne Plaza Hotels & Resorts, and InterContinental Hotels & Resorts.
On Thursday, 19 April, Al Hokair Group announced inking contract with IHG to develop and operate exclusively Holiday Inn Express hotels in Saudi Arabia.
