RIYADH: Finalized contracts have been announced for the establishment of 12 Holiday Inn Express hotels in Saudi Arabia, with the objective of bolstering the tourism industry in the kingdom.
As reported by Shadesofgalaxy, the hospitality and tourism sector in Saudi Arabia is set to experience a fresh surge in growth and investment, thanks to a collaboration between IGH Hotels and Resorts and Construction for Hotel Operations. This partnership will oversee the construction of 12 new hotels at a total cost of 1.3 billion Saudi riyals, and a construction contract will be executed accordingly.
The plan entails the development of 2,500 rooms across various Holiday Inn Express hotels in Saudi Arabia, with the inaugural property expected to open its doors in Jeddah by June 2025.
Haitham Matar, the managing director of IGH Hotels and Resorts for India, the Middle East, and Africa, expressed his enthusiasm regarding the immense opportunities created by Saudi Vision 2030 for the hospitality and tourism industry. Matar noted that they are actively seeking to expand their presence in Saudi Arabia in alignment with Vision 2030.
Faleh Mutasim Hajjaj, CEO of Hotel Operations at Cheed, also expressed his satisfaction with the partnership, stating, “We are pleased to collaborate with IGH Hotels and Resorts to expedite our expansion in Saudi Arabia in accordance with Vision 2030.”
This agreement aligns with Saudi Arabia’s national tourism strategy, which aims to attract 100 million visitors by 2030 and increase the sector’s contribution to the kingdom’s gross domestic product to over 10 percent.
IGH Hotels & Resorts currently operates 39 properties in the Kingdom under five brands, including InterContinental, Crowne Plaza, Holiday Inn, Staybridge Suites, and Vuco. Furthermore, they have 30 hotels in the pipeline, which are currently under construction and expected to commence operations within the next three to five years