InterContinental Hotels Group (IHG) has signed a Management Agreement with real estate company RIKAZ Properties to develop its fourth Holiday Inn hotel in Al Khobar.
The Holiday Inn Al Khobar King Fahd Road is expected to open in January 2021 in close proximity to the King Fahd Causeway.
The 140-key property will feature an outdoor pool, a lobby lounge, food and beverage outlets, and a gym.
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Pascal Gauvin, managing director, India, Middle East & Africa, IHG, said that he was delighted to sign the agreement and further strengthen the group's offering in the Kingdom of Saudi Arabia.
"We have a strong legacy in the Kingdom and are committed to leveraging the growth opportunities that Vision 2030 presents by expanding our presence across the country through our portfolio of global brands," he said. "With a number of recent signings in Saudi Arabia, across our brands such as Holiday Inn, voco and Crowne Plaza, we are growing our presence in key cities and gearing up to cater to the needs of diverse guest profiles expected to visit the country in the coming years."
Khalid Al Gahtani, chairman, RIKAZ Properties, added that there is expected to be an increase in tourist arrivals in KSA in the coming years.
"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 accommodation across the country," he said.
IHG currently operates 92 hotels across seven brands in the Middle East, with a further 41 due to open within the next three to five years.
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Aidan O'Sullivan. Click subscribe to sign up for the Hospitality Ireland print edition.