August 05, 2008 // Franchising.com // InterContinental Hotels Group (IHG) has announced the signing of the Crowne Plaza Riyadh - IHG's second Crowne Plaza in the Kingdom of Saudi Arabia.
The 300-room hotel - scheduled to open in late 2010 - is a partnership with Mohammed A. Al-Swailem for Commercial Investment Co. Ltd.
Primarily servicing business travellers, Crowne Plaza Riyadh will be located in the northern part of Riyadh, directly between the airport and city centre.
John Bamsey, Chief Operating Officer, IHG, Middle East and Africa, commented: "We are delighted to be developing the Crowne Plaza Riyadh, our first property with Mohammed A. Al-Swailem for Commercial Investment Co. Ltd., which already owns a large portfolio of successful companies throughout Saudi Arabia.
"We are experiencing dramatic growth throughout the Kingdom, particularly the thriving business accommodation market. Business travel to Saudi Arabia is increasing year on year and this trend looks set to continue, as the Kingdom pushes forward with extensive business developments."
Crowne Plaza Riyadh will offer seven meeting rooms, spanning a total area of 800sqm, plus a 450sqm banqueting hall with a capacity of 700.
Abdulaziz Mohamed Al-Swailem, General Manager for The Commercial Investment, Mohammed A. Al-Swailem for Commercial Investment Co. Ltd. commented: "This is an exciting agreement between two highly respected companies. We are proud and honoured to be developing this upscale Crowne Plaza in the burgeoning city of Riyadh. Mohammed A. Al-Swailem for Commercial Investment Co. Ltd is involved in a number of businesses operations within the Kingdom and we look forward to expanding our business portfolio with this new opportunity."
InterContinental Hotels Group (IHG) [LON:IHG, NYSE:IHG (ADRs)] is one of the world's largest hotel groups by number of rooms. IHG owns, manages, leases or franchises, through various subsidiaries, almost 4,000 hotels and more than 590,000 guest rooms in nearly 100 countries and territories around the world. The Group owns a portfolio of well recognised and respected hotel brands including InterContinental® Hotels & Resorts, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn Express®, Staybridge Suites®, Candlewood Suites® and Hotel Indigo®, and also manages the world's largest hotel loyalty programme, Priority Club® Rewards with over 37 million members worldwide.
IHG pioneered the travel industry's first collaborative response to environmental issues as founder of the International Hotels and Environment Initiative (IHEI). The environment and local communities remain at the heart of IHG's global corporate responsibility focus. IHG is the first major hotel group to have measured the environmental and carbon footprints of hotels that operate under our brands globally and is in the process of setting reduction targets.
With more than 1,600 hotels in its development pipeline, IHG needs to recruit around 150,000 people over the next few years to meet its global expansion plans.
InterContinental Hotels Group PLC is the Group's holding company and is incorporated in Great Britain and registered in England and Wales.
IHG offers information and online reservations for all its hotel brands at www.ihg.com and information for the Priority Club Rewards programme at www.priorityclub.com. For the latest news from IHG, visit our online Press Office at www.ihg.com/media