Saudi entrepreneur invests in digital transformation firm
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Saudi entrepreneur invests in digital transformation firm




IHG Hotels & Resorts, the world’s leading hotel company, has announced the signing of a Management Agreement with The Red Sea Development Company (TRSDC), an affiliate of Saudi Arabia’s Public Investment Fund (PIF) to open the InterContinental Resort Red Sea in the Kingdom of Saudi Arabia. Situated within the premium Red Sea Development destination, the new InterContinental Resort is scheduled to open during the first phase of The Red Sea Project’s development. The first phase of development is well underway, and it is to be completed by the end of 2023.

Haitham Mattar, Managing Director, India, Middle East & Africa at IHG said: “With a strong legacy in the country, we remain committed to leveraging the growth opportunities that are aligned with Saudi’s Vision 2030 and the priority destinations highlighted within the Saudi Tourism Strategy. We are excited to partner with The Red Sea Development Company, one of the world’s most ambitious regenerative projects, to strengthen our offering in Saudi Arabia and collaborate on sustainability-related initiatives to protect the natural, historical and cultural environments that make this destination unique. These initiatives align with IHG’s Journey to Tomorrow, a 10-year action plan focused on commitments to drive change for people, communities and the planet.

We also look forward to building scale in the Kingdom to deliver a landmark development that will cater to the needs of diverse guest profiles expected to visit the country in the coming years.”

The announcement comes during InterContinental Hotel’s and Resorts’ diamond anniversary celebrations, marking 75 years of pioneering luxury travel with a celebration of rich heritage, iconic hotels and exclusive experiences.

IHG is considered one of the world’s most ambitious luxury tourism developments amidst an archipelago of over 90 ancient islands. The hotel will offer guests panoramic views of the desert and extraordinary mountain landscapes.

Each of the resort’s 210 rooms will provide immediate beach access, allowing guests to step out onto the sands of the Red Sea from the terrace. Moreover, the resort will feature seven different gastronomic experiences, vast pools and recreational facilities, a spa, a health club, and meetings and events spaces for leisure and business travellers and groups.

John Pagano, CEO, The Red Sea Development Company and Amaala said: “Given IHG’s global expertise and strong legacy in the Kingdom, we are delighted to partner with them to bring world-class hospitality to our guests at The Red Sea Project. IHG is the ideal partner to build our hospitality offerings, shape guest experience, and take it to the next level. With their understanding of the local landscape, high standards of quality, impeccable service and clear focus on sustainability and responsible travel, we are confident that this partnership will see best-in-class results and we look forward to welcoming guests to this luxury leisure destination.”

In addition to The Red Sea Development, PIF is developing some of GIA projects across Saudi Arabia, including Qiddiya, AMAALA, Riyadh Central, Diriyah Gate, Jeddah Downtown, Rua Al Haram, Rua Al Madinah, Al Ula, NEOM, and King Abdullah Financial District.

IHG currently operates 37 hotels in Saudi Arabia across five brands, including InterContinental, Crowne Plaza, Holiday Inn, Staybridge Suites and Voco. A further 23 hotels are to open within the next three to five years.