Holiday Inn Express goes to Saudi Arabia

An exclusive franchise agreement was signed between Siraj Capital Ltd and the InterContinental Hotels group that will give the development team exclusive rights to start building hotels under the Holiday Inn Express brand in Saudi Arabia. The deal is already inked to open 12 properties over the next five years.

Signed in Jeddah, Saudi Arabia at Siraj Capital’s headquarters, the deal adds to the already impressive figure that the Holiday Inn Express brand opens two new hotels every week worldwide. Chief Operating Officer of the intercontinental Hotel Group John Bamsey said at the signing, “The rapid global expansion of the Holiday Inn Express brand will now be reflected in Saudi Arabia thanks to the robust agreement we have signed with our partners Siraj Capital Ltd and Hospitality Management Services. We are currently witnessing a growing demand for limited service hotels in the Kingdom where budget-conscious travellers seeking satisfactory levels of amenities and service currently turn to more expensive accommodation options.

With Holiday Inn Express we will address this issue by offering competitive pricing, quality accommodation and the assurance that an international brand brings. All hotels will provide the essentials, such as a complimentary breakfast, a power shower, workstations and a great night’s sleep.” added Bamsey. “It is an ideal time to be investing in the bourgeoning Saudi Arabian market, where the tourism sector is expected to grow by 12.6% in 2007 and by 6.1% per year between 2008 and 2017.”

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