IHG Hotels & Resorts have opened their Saudi headquarters in Riyadh. Currently managing 40 hotels in Saudi Arabia and 32 under construction in the kingdom, IHG is expanding significantly with 50% of their Middle East development now focused on Saudi Arabia.
A History of Growth
IHG Hotels & Resorts has been flourishing in Saudi Arabia since its initial venture into the Kingdom in 1975 with the launch of InterContinental Riyadh.
The hospitality giant currently operates 40 hotels, encompassing 18,000 rooms, and has an additional 32 hotels under construction.
Aligning with Saudi Vision 2030
The expansion strategy of IHG Hotels & Resorts aligns perfectly with the Kingdom’s diversification plans under Saudi Vision 2030.
The Kingdom is shifting its focus from oil dependence to other sectors such as tourism. By investing heavily in Saudi Arabia, IHG is playing a significant role in this economic transformation.
Saudi Arabia’s deputy minister of tourism destinations enablement in the Tourism Ministry, Mahmoud Abdulhadi, commented:
“IHG Hotels & Resorts’ substantial expansion within our borders is a testament to the promising opportunities the Kingdom offers.”
IHG has also committed to the Kingdom’s Saudization objectives. The company currently employs about 1,700 Saudi nationals, representing 44% of its total workforce in the Kingdom. IHG plans to increase this number to 6,000 by 2030.
Fostering Tourism Growth
The hospitality sector plays a crucial role in Saudi Arabia’s economic diversification efforts. Haitham Mattar, managing director of IHG Hotels & Resorts for the Middle East, Africa, and southwest Asia, stated:
“Saudi Arabia stands as a primary focus for IHG, and our decision to establish a stronger local presence in the country through the new country headquarters in Riyadh reinforces our commitment to this dynamic region.”
Boosting Industry Events
Parallel to IHG’s expansion, Saudi Arabia is also hosting major exhibitions across the glass, aluminum, and steel industries. These events align with the Kingdom’s Vision 2030 plan amid extensive construction efforts to diversify the economy.
Ahmad Mujahed, the general supervisor of the fair, stated that the exhibition has evolved into a globally interactive industrial event, with three times more participation requests compared to previous editions.
He also anticipated a doubling in the number of visitors due to the strong interest in the Saudi market.
New Hotel Indigo in Saudi Arabia’s NEOM’s Oxagon
IHG Hotels & Resorts recently announced plans to open a new Hotel Indigo property in the coastal industrial city of Oxagon, part of Saudi Arabia’s ambitious $500 billion NEOM project.
The 250-key Hotel Indigo property will sit in Oxagon’s first residential community. Oxagon is a revolutionary industrial city designed to be the world’s largest floating industrial complex and will serve as the business and industrial arm of NEOM.