IHG Hotels & Resorts has announced its intention to introduce all six of its luxury and lifestyle brands in Saudi Arabia by the year 2028.
Expansion Strategy in Saudi Arabia
The company outlined its plans during the Future Hospitality Summit, stating that it aims to operate its entire luxury and lifestyle portfolio within the Kingdom over the next four years. The six brands included in this initiative are InterContinental Hotels & Resorts, Kimpton Hotels & Restaurants, Hotel Indigo, Vignette Collection, Six Senses, and Regent Hotels & Resorts.
Current Presence and Future Developments
IHG currently manages 40 hotels across five of its luxury and lifestyle brands in Saudi Arabia. The company has also signed agreements for an additional 32 hotels, which are expected to open in the coming years. The expansion is part of IHG’s broader strategy to support Saudi Arabia’s Vision 2030, which seeks to diversify the country’s economy and grow its tourism sector.
Statements from IHG Leadership
Haitham Mattar, Managing Director for India, Middle East & Africa at IHG Hotels & Resorts, commented, “Saudi Arabia is a priority market for IHG globally. Our commitment to introduce all six of our luxury and lifestyle brands in the Kingdom by 2028 reflects our confidence in the country’s vision and the significant opportunities for growth.”
Support for Vision 2030
The company’s expansion aligns with Saudi Arabia’s Vision 2030 goals, which include increasing the number of visitors to 100 million annually and boosting the tourism sector’s contribution to the national GDP. IHG’s plans are expected to contribute to the development of hospitality infrastructure and create new employment opportunities in the region.
Further Information
Additional details about IHG Hotels & Resorts’ expansion in Saudi Arabia can be found at the following link: https://news.google.com/rss/articles/CBMipwFBVV95cUxOYW1IcmxBSmczT0liSE5ITGQ5WWs5YU13QzdseVFLZlowMlBmVEZuTWktRWo5WF9vR1BFb3JpNUltNG4yZVVibWExdEdaM1NabFA4T1NlTU9ZNmNxVzNhNnZDOTFGY2NEWnN6dExFUkZUNDhLZFg2eUQzMHBpRFE4amV1YnlYTlY0cjZiMzdJWWN5dkdMSlVsbGVRamp5d3A0OGhfdjA4dw?oc=5
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