Friday 3 December 2021
 
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IHG signs agreement for 11th property in Riyadh

RIYADH, 9 days ago

IHG Hotels & Resorts, a leading hotel company, has signed a management agreement with Al Aqeeq Real Estate Development Company, a wholly owned subsidiary of Taiba Investments for Crowne Plaza Taiba Riyadh, marking its 11th property in the Saudi capital.

Located on Makkah Al Mukarammah Branch Road, in proximity to the King Faisal Specialist Centre and the Diplomatic Quarter of Riyadh, the new build hotel is scheduled to open in June 2025.

Haitham Mattar, Managing Director, India, Middle East & Africa, IHG said: “With the signing of Crowne Plaza Taiba Riyadh, we continue to expand our footprint in the Kingdom. Our premium brand, Crowne Plaza, is a perfect fit for modern business travellers who desire a seamless transition between work and rejuvenation and therefore supports the business and leisure tourism offer put forth in Vision 2030.

“We are also honoured to have a partner in Taiba Investment, which is known for experience and expertise in the sector. The new build hotel will greatly benefit from increasing demand from the centre and enhance the city’s hospitality offerings.”

The hotel’s 192 rooms and 110 serviced apartments will provide a holistic experience for transient and extended-stay guests alike. Alongside the new-generation design, the hotel will also have strong F&B offering including a lobby lounge, an all-day dining and a café. Crowne Plaza Taiba Riyadh will also feature 200 sq m of meeting space, as well as fitness and recreational facilities.

“We are pleased to be partnering with IHG to develop our new hotel in the capital city of Riyadh,” said  Saleh Habdan Al-Habdan, Chief Executive Officer from Taiba Investments Real Estate Company.

“Given IHG’s strong footprints in the Kingdom of Saudi Arabia, we are confident that this new property will benefit greatly the hospitality landscape of the city and Kingdom overall, offering travellers a premium stay at, Crowne Plaza Taiba in Riyadh, opening its doors to guests in June 2025”.

IHG currently operates 37 hotels in Saudi Arabia across five brands including InterContinental, Crowne Plaza, Holiday Inn, Staybridge Suites and voco. A further 23 hotels are in the development pipeline, due to open within the next three to five years. – TradeArabia News Service




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