March 12, 2012 // Franchising.com // IHG, the world’s largest hotel group by number of rooms, and the biggest international hotel company in the Kingdom of Saudi Arabia, has signed an agreement with the Rayadah Investment Company to open two new hotels in Riyadh’s King Abdullah Financial District (KAFD), including the first Hotel Indigo in the Middle East.
Hotel Indigo Riyadh KAFD and InterContinental Riyadh KAFD will be situated in the heart of Saudi Arabia’s new economic and financial hub. With easy access to the airport and in close proximity to the main business area of Olaya, the two hotels will be ideal for those people travelling for business who also want to explore the city.
Hotel Indigo pioneers a new concept targeting upscale travellers who seek a unique hotel experience. Each hotel is inspired by its local neighbourhood and aims to represent its culture, character and history. Hotel Indigo KAFD, the first Hotel Indigo to open its doors in the Middle East, will feature 225 rooms, an all-day dining restaurant, a speciality restaurant and a lobby lounge café. The hotel will also include a business centre, three meeting rooms, fitness facility, swimming pool, secret garden and a double-height royal suite with a panoramic balcony that soars over KAFD.
InterContinental Riyadh KAFD will be the second InterContinental hotel in Riyadh, boasting 218 rooms, including 57 suites. The hotel will have seven food & beverage outlets, four meeting rooms, two board rooms, a dedicated press room, a large ballroom, and an extensive fitness centre with lap pool.
Jan Smits, IHG’s Chief Executive for Asia, Middle East and Africa, said:“There’s no mistaking that the Kingdom of Saudi Arabia is critical to our success in the region. We first introduced the InterContinental brand to the Middle East over 50 years ago. Since then we’ve continued to innovate, opening new hotels in key locations and becoming the largest international hotel company in the country.
“King Abdullah Financial District is the latest in a series of outstanding new developments across Saudi Arabia, with a partner we know well, and it was important for us to be a part of such a landmark project. With this signing we will expand our well-established InterContinental brand and introduce Hotel Indigo to the Middle East market. Saudi Arabia, with its rich culture and heritage, is a great new home for Hotel Indigo, which is already proving to be very popular in other key cities including London and Shanghai. This is the first of a number of signings we anticipate for Hotel Indigo in the region,” he added.
H.E. Mohammed Bin Abdullah Al Kherashi, Chairman of the Board of Rayadah Investment Company, said: “Saudi Arabia continues to develop as a leading business hub within the GCC and projects such as the King Abdullah Financial District provide a world class environment for the growing financial sector. A landmark InterContinental Riyadh KAFD and the fresh new Hotel Indigo KAFD will be a winning combination for guests looking for unique luxury experiences from internationally trusted brands.”
Established in 2004, Hotel Indigo offers guests the individuality and personal service associated with boutique hotels, with the consistency and peace of mind they get from staying with the world's largest hotel group. No two properties are the same anywhere in the world, ensuring guests enjoy a different experience every stay.
King Abdullah Financial District (KAFD), announced in 2006, is a 400-acre development north of central Riyadh. The 32 million square feet district will be a major financial centre in the Middle East and is part of Riyadh's overall economic diversification plan. KAFD will include premier office space, housing, a financial academy, Saudi Arabia’s stock exchange, GCC Central Bank, seven museums and other recreational facilities.
IHG and Rayadah Investment Company are also due to open the Crowne Plaza Riyadh ITCC (Information, Technology and Communication Complex), which was signed in 2009 and due to open in 2013.
IHG has 22 hotels (5,000 rooms) open across Saudi Arabia, employing nearly 7,000 people, including over 2,500 Saudi nationals. The company will grow its presence in the Kingdom in the next three to five years by over 50 percent, adding nine hotels (2,700 rooms) to its portfolio.
IHG (InterContinental Hotels Group) [LON:IHG, NYSE:IHG (ADRs)] is a global organisation operating seven hotel brands including InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn Express®, Staybridge Suites® and Candlewood Suites®. IHG also manages Priority Club® Rewards, the world’s first and largest hotel loyalty programme with over 63 million members worldwide.
IHG franchises, leases, manages or owns over 4,400 hotels and more than 658,000 guest rooms in nearly 100 countries and territories, and has more than 1,100 hotels in its development pipeline.
IHG expects to recruit around 90,000 new people worldwide across its estate over the next few years and is committed to gender balance throughout its business. We aspire to continue retaining a minimum of 25% female representation on the Board.
InterContinental Hotels Group PLC is the Group’s holding company and is incorporated in Great Britain and registered in England and Wales.
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