IHG inks first Saudi deal for Staybridge Suites
New property part of aggressive Saudi expansion plans
InterContinental Hotels Group (IHG) has inked an agreement with Dyafah Al Mutahida LLC to open a 200-key property in Jeddah; its first Staybridge Suites extended-stay property in Saudi Arabia.
The agreement to develop the Staybridge Suites in Jeddah forms a key part of IHG’s strategy to expand all its brands in the city, which the hotel group says has been identified as "a primary focus area" in the Middle East.
Staybridge Suites Hira Street will be developed on a 14,700sq m plot and forms part of Dyafah Al Mutahida LLC’s mixed-used development including retail outlets, healthcare facilities and a multi-purpose hall.
It joins three existing IHG properties in Jeddah: the 300-room InterContinental Jeddah, 323-key Crowne Plaza Jeddah, and 319-room Holiday Inn Al Salaam Jeddah.
Pascal Gauvin, IHG’s COO, for India, Middle East and Africa said: “We are seeing an increase in demand for a range of accommodation options in Saudi Arabia and Staybridge Suites is our latest response to that demand.
“It enables IHG to offer a home-from-home experience to suit the needs of business travellers staying for prolonged periods, but also for families and the many intra-regional leisure travellers that visit Jeddah. This new property is a perfect complement to our existing Jeddah properties and is an important part of our continued growth within Jeddah and Saudi Arabia.”
Mohammed BaGabas, Dyafah Al Mutahida LLC added: “With the major expansion to Jeddah’s airport and the boom in real estate construction, Jeddah is becoming an increasingly important commercial hub. Our mixed-use development, within easy access to the city and airport, will provide guests with the convenience of retail outlets and other facilities on their doorstep.”
IHG claims to currently be the largest international hotel company in Saudi Arabia, both by number of hotels (22) and by number of rooms (5,111).
IHG currently has eight hotels in its Saudi Arabia pipeline across four brands.