IHG identifies Middle East key drivers of demand
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The Middle East hospitality industry is unique and has certain key demands. Changing demographics, a strong and growing aviation sector, and religious tourism – are the key factors demand drivers identified by IHG for the region and India.
Elaborating Jan Smits, IHG’s chief executive officer for Asia, Middle East and Africa said: “The Middle East is and has been an important market for us. The region still has characteristics of an emerging market. It is dynamic, rapidly evolving, and has a great deal of potential.”
The group continues to see growth across the region with a development pipeline of 110 hotels in India, Middle East and Africa due to open in the next three to five years This includes some key signings this year such as the InterContinental Dubai Marina, Crowne Plaza Resort Ras Al Khaimah, Hotel Indigo Riyadh King Abdullah Financial District and InterContinental Riyadh King Abdullah Financial District. With the opening of these hotels IHG expects to create more than 24,000 new jobs across Saudi Arabia, UAE and India alone.