IHG Set to Expand in UAE Capital with Two New Hotels
IHG also signed a management agreement with Pearl Azure Hotel Management LLC for the 257-key Holiday Inn Downtown Abu Dhabi, which will be a conversion of the current Sands Hotel in downtown Abu Dhabi. Featuring a restaurant, bar, pool, fitness centre and dedicated meeting space, the new hotel will undergo a refurbishment and open as a Holiday Inn by the end of 2014.
The National Corporation of Tourism and Hotels and Pearl Azure Hotel Management LLC already have three IHG properties in their portfolio across the UAE: InterContinental Abu Dhabi, Crowne Plaza Abu Dhabi and Crowne Plaza Dubai. Along with these new signings comes a renewal of the management agreement for the existing InterContinental Abu Dhabi.
Pascal Gauvin, Chief Operating Officer, India, Middle East & Africa, IHG commented: "As the capital of the UAE and one of the fastest growing cities in the Middle East, Abu Dhabi is a key market for IHG and we see strong potential for all our brands here. Our Owners play an important role in our growth strategy and we are committed to building long-term relationships with them. We have had a long and successful partnership with the National Corporation of Tourism and Hotels and Pearl Azure Hotel Management LLC for nearly two decades now. The signing of the new InterContinental and Holiday Inn is a fantastic step in for both our Owners and IHG and we look forward to continuing our partnership to develop more industry-leading hotels for the growing travel market in Abu Dhabi."
Mohamed Mounib, Group Chief Executive Officer, National Corporation of Tourism and Hotels and Pearl Azure Hotel Management LLC commented: "We have been working with IHG for about 20 years now and the three properties we have under their management have seen steady growth and healthy returns over the years. With the growth in demand for midscale hotels in the UAE it is also a good time for us to add the Holiday Inn brand into our portfolio. We are very pleased to be extending our partnership with IHG to add two new hotels to Abu Dhabi, which puts us in a good position to cater to the growing number of business and leisure travellers in the city."
IHG currently has 18 hotels open in the UAE across five brands, with another seven in the pipeline. There are five IHG properties operating in Abu Dhabi: an InterContinental hotel, two Crowne Plaza hotels, a Holiday Inn and a Staybridge Suites. This latest announcement brings the total number of properties in IHG's development pipeline for Abu Dhabi to three, including a new Staybridge Suites which will open in the next three to five years.
IHG (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global organisation with a broad portfolio of nine hotel brands, including InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels & Resorts, Holiday Inn Express®, Staybridge Suites®, Candlewood Suites®, EVEN™ Hotels and HUALUXE® Hotels and Resorts.
IHG manages IHG® Rewards Club, the world's first and largest hotel loyalty programme with nearly 79 million members worldwide. The programme was relaunched in July 2013, offering enhanced benefits for members including free internet across all hotels, globally.
IHG franchises, leases, manages or owns over 4,700 hotels and 688,000 guest rooms in nearly 100 countries and territories, with more than 1,100 hotels in its development pipeline.
InterContinental Hotels Group PLC is the Group's holding company and is incorporated in Great Britain and registered in England and Wales.