IHG Hotels & Resorts has signed a deal to open another seven hotels across multiple brands in Saudi Arabia
The group has inked a five-year Master Development Agreement (MDA) with RIVA Development Company via its wholly owned subsidiary, RIVA Hospitality for Hotel Services Company, to launch properties in cities such as Riyadh, Jeddah, Eastern Province, Abha, Hail, Qassim and Tabuk.
Most hotels under the agreement are expected to be greenfield projects and will represent “best-in -class products”, said IHG. The agreement also presents the potential to extend the partnership for another five years to develop additional 12 hotels in the kingdom.
IHG currently operates 38 hotels across five brands in Saudi Arabia, including: InterContinental, Crowne Plaza, Holiday Inn , Staybridge Suites and voco, with a further 20 hotels in the development pipeline due to open within the next three to five years.
