Al Hokair Group Inks Exclusive Agreement with IHG for Holiday Inn Express in Saudi Arabia
Al Hokair Group has signed a Master Development Agreement (MDA) with InterContinental Hotels Group (IHG) which will see the debut of Holiday Inn Express brand in Saudi Arabia with a rollout of 10 Holiday Inn Express hotels over the next 15 years. This significant development complements IHG's robust pipeline in the Kingdom and cements its position as one of the leading operators in the country, as well as consolidates its partnership with the Al Hokair Group.
Mr. Sami Al Hokair, Managing Director of Al Hokair Group, stated: "We are very excited to expand our footprint in the mid-market segment where we see enormous potential for growth with a trusted global hospitality leader such as IHG. 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. This demonstrates our commitment to Vision 2030 and the development of the hospitality sector which is a key growth driver in the Kingdom. We value our partnership with IHG and look forward to working with them on this ambitious project."
Speaking about 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 experience to varied guests' profiles, and with this signing, we are further extending our consumer appeal by offering quality, yet affordable accommodation for savvy travellers."
IHG currently operates 31 hotels across four brands including InterContinental Hotels & Resorts, Crowne Plaza Hotels & Resorts, Holiday Inn and Staybridge Suites in Saudi Arabia.
There are currently 2600 Holiday Inn Express hotels open across the globe, with a further 776 hotels due to open in the next three to five years.**
**Figures as of December 31st 2017
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, UAE, JORDAN and TURKEY. Occupying over 882,226 sqm of space and employing over 4100 experienced professionals, the group serves over 12 million people annually. For more information about Al Hokair Group visit www.alhokair.com
Dubai International Convention Centre — Dubai, United Arab Emirates
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®.
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