RIYADH: Contracts have been finalized for the opening of 12 Holiday Inn Express hotels in Saudi Arabia, with the aim of boosting tourism in the kingdom.
According to Urdu News, the hospitality and tourism sector in Saudi Arabia will witness a new wave of growth and investment with IGH Hotels and Resorts and Construction for Hotel Operations, which will build 12 new hotels at a cost of 1.3 billion riyals. A construction contract will be signed.
The deal will include the construction of 2,500-room Holiday Inn Express hotels in Saudi Arabia, with the first set to open in Jeddah by June 2025.
Haitham Matar, managing director of IGH Hotels and Resorts in India, Middle East and Africa, said in a statement that Saudi Vision 2030 has created tremendous opportunities for the hospitality and tourism industry. Looking to increase.
“We are delighted to partner with IGH Hotels and Resorts to accelerate our expansion in Saudi Arabia in line with Vision 2030,” said Faleh Mutasim Hajjaj, CEO of Hotel Operations at Cheed, in a statement.
The agreement is in line with Saudi Arabia’s national tourism strategy, which aims to attract 100 million visitors by 2030 and increase the sector’s contribution to the kingdom’s gross domestic product to more than 10 percent.
IGH Hotels & Resorts operates 39 properties in the Kingdom under 5 brands including InterContinental, Crowne Plaza, Holiday Inn, Staybridge Suites and Vuco.
In addition, it has 30 hotels in the construction pipeline that will start operations in the next 3 to 5 years.