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IHG signs second hotel to be developed under MDA with RIVA Development Company
Wednesday, 7th July 2021
Source : IHG® Hotels & Resorts

IHG Hotels & Resorts has announced the signing of InterContinental Riyadh King Fahed Road, as part of a Master Development Agreement (MDA) with RIVA Development Company via its wholly owned subsidiary RIVA Hospitality for Hotel Services Company. 

The latest development follows the signing of Hotel Indigo Riyadh King Abdallah Road, and is the second of at least 7 hotels to be announced with the partner, with all openings set to take place in Saudi Arabia across IHG’s portfolio of brands in the coming years. 

Pioneering luxury travel since 1946, this year, the iconic InterContinental brand is celebrating its 75th Diamond anniversary . 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. Over the years, IHG continues evolve its luxury offering and have a strong foothold in the segment through the flagship brand, InterContinental which has great recognition in the Kingdom.  

Expected to open in March 2025, InterContinental Riyadh King Fahed Road will add to IHG’s current brand portfolio of 9 operating InterContinental hotels in the Kingdom. The hotel 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. True to the evolved brand, the hotel will offer its guests bespoke and intuitive services. 

Additionally, true Saudi hospitality can be experienced at any of the hotel’s five dining options which will provide guests with a diverse and fine selection of culinary delights to enjoy. InterContinental Riyadh King Fahed Road will also feature a business centre, 784 sqm of meeting and events space including a 600 sqm ballroom to cater to the demands of business travelers visiting Saudi Arabia’s capital city.

Speaking 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 Development Company as we expand our presence in the Kingdom of Saudi Arabia. IHG has a strong and credible reputation in the luxury segment through the iconic InterContinental brand which has enjoyed great success in Saudi Arabia over the last four decades. InterContinental Riyadh King Fahed Road will be a brand defining property and will offer guests exceptional experiences immersed in local hospitality and international service excellence.  
He added : Vision 2030 provides great opportunity for the hospitality sector and we have ambitious plans to support the country’s strategic growth plan, now and into the future. We look forward to continuing IHG’s legacy with the opening of InterContinental Riyadh King Fahed Road.”

Engr. Mugbel Bin Suleiman Al Thukair, Co-Founder, RIVA Development Company, Chairman, RIVA Hospitality for Hotel Services Company added: “ We are delighted to announce the first signing of seven hotels to be opened with IHG in Saudi Arabia. As part of RIVA keenness on being an essential part of the Saud Vision 2030 lead by HRC Mohamad Bin Salam Bin Abdel Aziz Al Saoud, and as part of an evolving metropolitan hub, Riyadh is the ideal destination to begin our journey with IHG, with increasing visitor numbers expected to the capital in the coming years. 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.”

IHG currently operates 38 hotels across 5 brands in Saudi Arabia, including: InterContinental, Crowne Plaza,  Holiday Inn , Staybridge Suites and voco with a further 20 hotels in the development pipeline due to open within the next three to five years.  

 **Numbers as of March 31st, 2021 

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