IHG and Dur Hospitality sign franchise agreement for Riyadh hotel
The two companies will rebrand the existing Riyadh Palace Hotel to the Crowne Plaza Riyadh Palace by June 2018
Saudi's Dur Hospitality and IHG have signed a franchise agreement for Crowne Plaza Riyadh Palace, under the master franchise agreement signed in 2014 for four hotels.
Currently operating as Riyadh Palace Hotel, the property is expected to be rebranded to Crowne Plaza by June 2018.
The property has an element of French design and is located in the Ministries Quarter. It offers 304 rooms, more than 1,400m2 of meetings space, a business centre along with an outdoor pool, club lounge, and a spa. It offers a restaurant and a lobby café.
IHG managing director India, Middle East & Africa Pascal Gauvin said in a statement: "We value our partnership with Dur Hospitality and we look forward to expanding our presence in Riyadh. Saudi Arabia is a priority market for us, and this agreement is a representation of our intent to continue growing in the country and our commitment to our overall expansion plans in the Middle East.
"Given the government’s ambitious economic reform plan, Vision 2030, we anticipate an increase in demand for quality branded hotels in Saudi Arabia, and with 31 operational hotels and a robust development pipeline, we are confident of being able to cater to this demand."
IHG currently has seven operating hotels in Riyadh and 31 in the Kingdom of Saudi Arabia.