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IHG plans to open 2 hotels in Riyadh: Global hospitality player Intercontinental Hotel Group (IHG) is set to launch two hotels in King Abdullah Financial District (KAFD) in 2027 under an a management agreement signed with PIF-subsidiary KAFD DMC, it said in a statement. There’s no publicly available information about the investment size.
The new hotels: The 400-key InterContinental KAFD will feature five food and beverage outlets, conferencing halls, a fitness center, a spa and a swimming pool, while the 250-key Regent Riyadh KAFD will feature a signature restaurant, two specialty restaurants, a tea lounge, two cafes, a luxury fitness facility, a Regent Spa, a ballroom, meeting rooms, VIP, and bridal suites.
3 Hotels this year: IHG is inching closer to the debut of its 212-key luxury brand KimptonRiyadh — set to open in June 2024 — under an agreement with KAFD DMC. This is in addition to a franchise agreement with Firdous Abha Hotel Holding to open Hotel Indigo Abha — set to open in December 2025 — which will be under the management of Dubai-based Aleph Hospitality. The hospitality player is also set to bring its hotel brand Voco & Suites to Jeddah, with the 110-key hotel set to open in September 2024 as part of a management agreement signed with Dubai-based investment firm Rusd Capital.
About IHG Hotels: IHG boasts a diverse portfolio of 18 hotel brands and 6k hotels globally. The hospitality player has 2k hotels and 292k rooms in the pipeline.
ALSO IN TOURISM- Red Sea Global announced with luxury hotels operator Four Seasons a new resort at its luxury tourist destination Amaala, according to a statement. The 220-key Four Seasons Resort and Residences Amaala at Triple Bay will comprise rooms, suites and villas, the statement said. RSG is a wholly-owned unit of the PIF.
Four Seasons has big plans for Saudi: The new resort joins a growing portfolio by Four Seasons that includes the Four Seasons Hotel Riyadh and planned projects at RSG’s The Red Sea, Jeddah, and Neom. Last month, the RSG said it secured a SAR 2 bn loan from Riyad Bank to develop a Four Seasons resort at its landmark tourist destination, The Red Sea.
