IHG Signs Two Luxury Hotels in KAFD Riyadh, Saudi Arabia

Dark/Light Mode (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.

See also: Saudi Arabia's Air Connectivity Program - HD Video Interview with Rashed Alshammari, VP Commercial.

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