Mubasher: Intercontinental Hotels Group Global (IHG Global) has plans to grow its business across the Middle East, the CEO of IHG Global, Keith Barr, said.
The CEO has discussed the hotel group's plan to expand in the Middle East in an exclusive interview with Yousef Gamal El-Din and Manus Cranny on "Bloomberg Daybreak: Middle East."
For business growth in Saudi Arabia: the CEO clarified that "We are excited to see how the market is evolving and changing...Significant changes taking place in Saudi economically, which will drive domestic tourism and really, overall business growth in Saudi."
He added that IHG Global intends to grow about 25% of its business in the region during the coming 3 to 5 years.
On oil prices and economic diversification, the CEO said that the "pressure on oil prices forced the economies to look at diversification and see the rising role and importance of tourism."
