IHG adds to Saudi Arabia’s 2030 Vision

Riyadh, Saudi Arabia. Image © ekrem osmanoglu / Unsplash
InterContinental Hotels has signed two more luxury hotels in Riyadh, Saudi Arabia to its growing pipeline in the region, as it supports the country's 2030 Vision to grow its tourism sector

InterContinental Hotels is to add two more hotels to its Middle Eastern pipeline. The group has signed to open an InterContinental and a Regent hotel in Riyadh, Saudi Arabia.

The hotels join a growing roster of hospitality project commitments across Saudi Arabia, as the country looks to substantially grow its tourism sector under its Vision 2030 plan.

The new hotels will be developed within the fast growing King Abdullah Financial District (KAFD) in Riyadh. Designed as a vertical city, KAFD includes a mix of offices, luxury residences and hotels, retail outlets, and entertainment and cultural venues on a 1.6 sq km area of the city. The development aims to set new standards for sustainable design and smart infrastructure, with new buildings LEED certified to confirm their low carbon designs.

Building on relationships

Both the new hotels willl open in 2027, and they will join a Kimpton branded hotel in the district that IHG expects to open later in 2024. The 250 room Regent Riyadh KAFD will feature a grand ballroom and meeting rooms, a Regent spa and fitness facility, with a signature restaurant and two more specialist restaurants, a tea lounge and cafes.

The InterContinental Riyadh KAFD will be larger, at 400 rooms. Guests will be able to enjoy five food and beverage outlets, a fitness centre and swimming pool, and indoor recreation area. The project will feature conferencing facilities, and a nearby business centre.

Tourism growth

Gautam Sashittal, Chief Executive Officer of developer KAFD DMC said the first seven months of 2023 saw a 58% increase in visitor numbers to Saudi Arabia. “The Kingdom counted over 100 million tourists last year, collectively spending SAR100bn, and these numbers are poised to grow, with a national target of 150 million by 2030.”

“We are excited to collaborate with IHG Hotels & Resorts to enrich KAFD’s luxury lifestyle and hospitality offerings for those seeking exceptional experiences in the heart of Riyadh. We both share a steadfast commitment to the Kingdom’s Vision, aligning our efforts not only to elevate the hospitality experience within KAFD but also to support the broader objectives of Vision 2030 by fostering growth and excellence in the hospitality sector.”

Currently, IHG operates 43 hotels in Saudi Arabia, bearing its brands Six Senses, InterContinental, Crowne Plaza, Holiday Inn, voco, and Staybridge Suites. It has committed to a pipeline of 32 more hotels in the country, which will all be open within the next two to five years.