IHG Hotels and Resorts has signed a deal with RIVA Development Company to open seven new hotels across the Saudi Arabia.
The five-year agreement could be expanded to accommodate another 12 hotels in the kingdom.
The hotels will open in cities such as Riyadh, Jeddah, Eastern Province, Abha, Hail, Qassim and Tabuk.
“We are excited to partner with RIVA Development Company as we strengthen our offering in Saudi Arabia. We have a strong legacy in the Kingdom and are committed to leveraging the growth opportunities that focus on aligning with Saudi’s vision 2030 and the priority destinations highlighted in the Saudi Tourism Strategy, by expanding our presence across the country through our portfolio of global brands,” Haitham Mattar, Managing Director, India, Middle East & Africa, IHG said.
IHG currently operates 38 hotels across 5 brands in Saudi Arabia, including: InterContinental, Crowne Plaza, Holiday Inn , Staybridge Suites and Voco. It has a further 20 hotels in the development pipeline due to open within the next three to five years.
“We are proud to be partnering with an experienced, global hospitality company such as IHG, and we look forward to leveraging their experience and knowledge to offer world-class amenities and excellent service to our guests. The signing demonstrates our shared commitment to Saudi Vision 2030 and confidence in the future growth of the Saudi tourism sector,” Mugbel Al Thukair, Co-Founder, RIVA Development Company, said.
IHG's development deal follows an agreement between Marriott and real estate company Al Saedan Group to open three hotels across the country.