(07/03/24) IHG has signed a management agreement with the
King Abdullah Financial District Management and Development
Company (KAFD DMC) for two luxury hotels in Riyadh, Saudi Arabia.
Set in the heart of the Saudi capital, KAFD is the
first vertical city in the Kingdom and the largest LEED-certified
mixed-use business district in the world. It is home to offices, luxury residences, hotels, retail
outlets, entertainment and cultural venues, across a land area of
1.6 square kilometers.
The Regent Riyadh KAFD and InterContinental Riyadh
KAFD are scheduled to open in 2027 and will complement the
region’s first Kimpton at KAFD, which is set to debut by the end
of 2024 as part of a separate deal signed last year.
“Saudi Arabia’s
tourism is booming like never before, seeing a 58% increase in
visitor numbers and ranking second globally in terms of tourist
arrivals during the first seven months of 2023. The Kingdom
counted over 100 million tourists last year, collectively spending
SAR100 billion, and these numbers are poised to grow, with a
national target of 150 million by 2030,” said Gautam Sashittal,
Chief Executive Officer at KAFD DMC “Now, as a
full-fledged business district active around the clock evolving
into a vibrant lifestyle destination as well, KAFD stands poised
to emerge as a key focal point for both business and leisure
travelers.”
The Regent Riyadh KAFD is expected to open in 2027
The Regent Riyadh KAFD will mark IHG’s inaugural
Regent property in Riyadh. The 250-key hotel will feature a
signature restaurant, two specialty restaurants, a tea lounge, and
two cafes. Beyond its culinary offerings, the hotel will
also have a luxury fitness facility, a spa and a variety of
meeting and event spaces as well as VIP and Bridal
Suites.
The InterContinental Riyadh KAFD will have 400 keys, five
F&B outlets – including a
signature offering, two specialty restaurants and a lobby lounge; conference
facilities; a fitness center; spa; swimming pool; and an indoor
recreation area within a Retail Business Centre.
“Riyadh is
undergoing a massive transformation, and locations like KAFD
increase the number of investments into the city and the wider
Kingdom,” said Haitham Mattar, Managing Director – India, Middle
East and Africa at IHG. “We are ever
confident in our partnership with KAFD to cater to the growing
demand for luxury guest experiences in the region with Regent
Riyadh and InterContinental Riyadh KAFD; embodying the principles
of our ‘Journey to Tomorrow’ initiative and ensuring we set a
benchmark for world-class luxury and ultra-luxury stays that
prioritize responsible practices and contribute to a sustainable
future for the capital.”
IHG currently operates 43 hotels across 6 brands
in Saudi Arabia, including Six Senses, InterContinental, Crowne
Plaza, Holiday Inn, voco and Staybridge Suites The company has a strong
pipeline of approximately 32 hotels due to open in the next 2-5 years.
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