Thursday, April 18, 2024

IHG and Riva inks deal for second Saudi InterCon hotel

IHG Hotels & Resorts has signed the deal for InterContinental Riyadh King Fahed Road, the second hotel to be developed under the master development agreement with Riva Development Company via its wholly-owned subsidiary Riva Hospitality for Hotel Services Company.

The InterContinental brand is celebrating its 75th Diamond anniversary this year. The brand also has a strong legacy in Saudi Arabia, having opened InterContinental Riyadh, in 1975 – IHG, has since positioned itself as one of the largest hospitality players in the country. 

InterContinental Riyadh King Fahed Road is the second of at least seven hotels to be announced with Riva, with all openings set to take place in Saudi Arabia across IHG’s portfolio of brands in the coming years.

The latest development follows the signing of Hotel Indigo Riyadh King Abdallah Road and will represent the best-in-class product with a refreshed, modern design, and will feature 250 elegantly appointed guest rooms and 150-unit apartments as part of InterContinental Residences as well as a pool, fitness centre and spa where guests can relax and rejuvenate, it stated. 

 Expected to open in March 2025, InterContinental Riyadh King Fahed Road will add to IHG’s current brand portfolio of nine operating InterContinental hotels in the Kingdom. 

On the announcement, Haitham Mattar, Managing Director, India, Middle East & Africa, IHG said: “As part of our continued growth strategy, and in line with the Saudi Tourism Development Strategy, we are proud to partner with Riva as we expand our presence in the kingdom.”

The new property will feature a business centre, 784 sq m of meeting and events space including a 600 sq m ballroom to cater to the demands of business travelers visiting Saudi capital, he added.

Engineer Mugbel Bin Suleiman Al Thukair, the Co-founder, Riva Development Company and Chairman of Riva Hospitality for Hotel Services Company, expressed delight at the first signing of seven hotels to be opened with IHG in Saudi Arabia.  “InterContinental is an iconic and prestigious brand, with a long-standing reputation in Saudi Arabia and we look forward to working alongside IHG to bring provide guests with a luxurious and truly memorable experience when we open in 2025,” he added.

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