IHG has signed a management agreement with real estate company RIKAZ Properties to develop its fourth Holiday Inn in Al Khobar, Saudi Arabia.
Having signed two Holiday Inns in Madinah and Jeddah earlier this year, this latest development is part of IHG’s efforts to increase its midscale portfolio in the region and cater to a diverse guest mix visiting the country.
Expected to open in January 2021, Holiday Inn Al Khobar King Fahd Road will be located near the King Fahd Causeway, which is expected to help drive leisure and corporate guests to the property due to its ease of connectivity to and from Bahrain.
The 140-key property will feature an outdoor pool, a lobby lounge, food and beverage outlets and a gym.
“Tourism is a focal point under the government’s Vision 2030, and there is expected to be an increase in tourist arrivals in KSA in the coming years,” said Khalid Al Gahtani, chairman of RIKAZ Properties. “The Holiday Inn brand has an international appeal, and we are confident that this latest hotel will be a success and cater to the increasing demand for quality midscale accommodations across the country.”
IHG currently operates 92 hotels across seven brands in the Middle East, including: InterContinental, Crowne Plaza, Holiday Inn, Holiday Inn Express, Staybridge Suites, Voco and Six Senses Hotels Resorts, with 41 in the development pipeline that are due to open within the next three to five years.