IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, has signed an agreement with Mohammed AbdulAziz Al Rajhi & Sons Investment Co, to convert and rebrand two hotels in Saudi Arabia. Under the management agreements, Coral Hotel will be converted to voco Al Khobar, the first voco in the kingdom, and Holiday Inn Al Khobar Ulaya, will undergo a major refurbishment to be converted from an independently run hotel to the first managed Holiday Inn in Al Khobar.
Both hotels are located in the centre of the Al Khobar, home to Saudi Arabia’s oil and petrochemical industry. In recent years, its large resident expatriate population has transformed the city into a commercial hub while its waterfront location attracts a large number of domestic tourism looking for the perfect vacation.
Scheduled to open in 2019, voco™ Al Khobar will offer guests the informality and charm of an individual hotel, with the quality and reassurance of a global and respected brand. Guests can take advantage of a range of amenities including an outdoor pool and gym, to relax and unwind, as well as the choice of two dedicated dining options. Business travellers are also catered for, with a dedicated business centre and 14 meeting rooms.
The Holiday Inn® Al Khober Ulaya, is strategically positioned to cater to both corporate and leisure travellers. When the refurbished hotel opens in 2020, guests will have access to a fully equipped gym and swimming pool, as well as 4,000 sqm of meeting space for all corporate needs. There will also be three F&B options for guests to choose from.
Speaking of the signing, Pascal Gauvin, Managing Director, India, Middle East & Africa, IHG, said: “Saudi Arabia has always been a key market for IHG, and we have built a strong portfolio of brands across the country over the years. We are delighted to be continuing our expansion across the country, in partnership with Mohammed AbdulAziz Al Rajhi & Sons Investment Co. This agreement is particularly exciting as we are debuting voco in Saudi Arabia in line with our ambitious plans to accelerate the growth of the recently-launched upscale brand across the region.”
Mr. Yazid Bin Mohamed Al-Rajhi, Board Chairman, Mohammed AbdulAziz Al Rajhi & Sons Investment Co, commented: “It’s an extremely exciting time for Saudi Arabia, as the tourism landscape is rapidly changing. We are delighted to join forces with IHG, which has a strong legacy in the Kingdom, to leverage the growth opportunities that Saudi Vision 2030 presents, particularly in the burgeoning midscale and upscale market.”
Mohammed AbdulAziz Al Rajhi & Sons Investment Co. was founded in 2015, Owned by heirs of Sheikh Mohammad Bin AbdulAziz Al Rajhi, the company’s business is characterized by broad managerial infrastructure through managing huge projects, developing new projects, and supporting start-ups that has a positive economic impact on the Kingdom and would open doors for larger projects within the health, service, real estate, and industrial sectors.
IHG currently operates 88 hotels across 5 brands in the Middle East, including: InterContinental® Hotels & Resorts, Crowne Plaza® Hotels & Resorts, Holiday Inn®, Holiday Inn Express® and Staybridge Suites® with a further 30 in the development pipeline due to open within the next three to five years**.
**Figures as of September 30th, 2018