IHG® Hotels & Resorts, one of the world’s leading hotel companies, has announced the signing of a Management Agreement with Al Ajlan Company for InterContinental Hotel & Residences in the Riyadh North area. Set to open by 2028, the prestigious 400-key hotel and serviced apartments will form part of a state-of-the art masterplan comprising of high-end retail, offices and entertainment. The hotel will reflect the modern luxury philosophy and will strengthen IHG’s offering in the segment.
Saudi Arabia represents significant potential for tourism and hospitality industry, as part of its Vision 2030 ambitions. While Riyadh has long been and continues to be a centre for business in the Kingdom, new developments in the north of the city, including the Boulevard, U-Walk, and Riyadh Seasons herald a new demand for leisure tourism as well.
In addition to rooms designed with modern aesthetics, the hotel will feature distinctive dining options, multipurpose meetings and events rooms, a health club and a spa. Located in proximity to the airport, the hotel will also be strategically positioned to cater to business and leisure demand.
Speaking on the announcement, Haitham Mattar, Managing Director, India, Middle East & Africa, IHG said: “This Management Agreement of an exciting new build InterContinental property in Riyadh’s vibrant north district represents IHG’s commitment to support the growing tourism and hospitality ambitions of the Kingdom of Saudi Arabia, as part of Vision 2030. With new developments in leisure and entertainment sector across the country, and the introduction of e-visas and a new airline, Riyadh is ready to welcome more diversified tourists to the capital city. With a strong hotel portfolio across all guest segments and a growing regional office in Riyadh, we are prepared to cater to the needs of our owners and guests.
He added: InterContinental Hotels & Resorts has a legacy and exceptional reputation in Saudi Arabia and around the world. With our new offering in the capital city in partnership with Al Ajlan Company, guests will be able to experience modern luxury through the brand’s hallmarks.”
Mr. Ajlan Al Ajlan, CEO, Al Ajlan Company, added: “The tourism and hospitality sector in Saudi Arabia is growing at pace, and represents a true drive from the leadership to diversify our economy in the coming years leading up to 2030. We’ve been proponents of diversification of investments for more than 50 years, and we’re pleased to be making this new foray into the hospitality industry in partnership with a trusted and experienced global brand like IHG”.
IHG currently operates 37 hotels across five brands in Saudi Arabia, including: InterContinental, Crowne Plaza, Holiday Inn, Staybridge Suites, and voco, with 20 hotels in the development pipeline set to open within the next three to five years.