IHG® signs agreement for Holiday Inn Riyadh The Business District
The latest signing supports IHG’s growth ambition in KSA
January 11, 2020: IHG® Hotels & Resorts, one of the world’s leading hotel companies, has signed a Management Agreement with Lina Snacks Foods Company to open Holiday Inn Riyadh The Business District. Building on IHG’s recent signings in KSA, including voco Jeddah North, this latest development supports IHG’s growth ambition in Saudi Arabia. It builds on the strong signing momentum in the region.
Expected to open in January 2022, the 138-room property will be strategically located close to King Khalid International Airport. The Riyadh Front, the new leisure destination of Riyadh, developed in line with Vision 2030, making it an ideal choice for both corporate and leisure guests. Holiday Inn Riyadh The Business District will feature two F&B outlets, six meeting rooms (1,216 sqm) with the largest room capacity of 310 guests, an outdoor pool, a gym, and a business center. The hotel is also a part of mixed-use development, The Business District, comprising 20 offices, a coffee shop, a mosque, and a nursery.
Commenting on the signing, Matthew Tripolone, VP, Development, Middle East and Africa, IHG said: “Saudi Arabia remains a priority market for us in the region, and we are delighted to add another hotel to our growing portfolio in the country, in partnership with Lina Snacks Foods Company. Despite the industry’s current challenges, we believe that Vision 2030 will continue to progress, and the hospitality industry will be a vital sector in KSA. This will be fueled by increasing demand from both business and leisure travelers from Saudi Arabia in the mid-long term. Key cities such as Riyadh will be at the center of this demand, and we are pleased to strengthen our presence in the city further.”
Eid AL Subaie, CEO, Lina Snacks Foods Company, added: “We are proud to be partnering with an experienced, global hospitality company such as IHG, and look forward to leveraging their experience and understanding of the market to offer world-class amenities and excellent service to our guests visiting the city of Riyadh. Key partnerships such as this will be significant to the hospitality offering in the country and create sustainable employment opportunities in the Kingdom. Holiday Inn is a brand known and preferred by travelers, and we are confident that the Holiday Inn Riyadh The Business District will be a great success.”
IHG currently operates 95 hotels across 7 brands in the Middle East, including InterContinental, Crowne Plaza, Holiday Inn, Holiday Inn Express, Staybridge Suites, voco™and Six Senses with a further 42 in the development pipeline due to open within the next three to five years.
**Numbers as of September 30th, 2020
