IHG targets 40% growth by 2021
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IHG (InterContinental Hotels Group) is expecting to record more than 40% growth across the Middle East in the next three to five years, with 25 new hotels in the pipeline.
Currently, the group operates 78 hotels in GCC, Levant, and Egypt alone, following a well-rounded 2015, when it added five new hotels to its portfolio, including the Holiday Inn in Saudi Arabia with 5,154 rooms.
The company is placing a special focus on midmarket hotels. Dubai, in particular, is seeking to triple its annual tourism income to US$82 billion by the time the Expo rolls around in 2020.
“With around 9,658 rooms in the pipeline, we are in a good position to support the commercial and tourism industries across the region, specifically at mid-market level, which is a key area of focus for GCC countries,” said Pascal Gauvin, chief operating officer, India, Middle East & Africa, IHG.
Of the 25 properties on the horizon, 11 are in development in the UAE – three InterContinental, three Crowne Plaza, one Holiday Inn, two Staybridge Suites and two Hotel Indigo hotels. Saudi Arabia has the second largest pipeline, with one InterContinental, one Crowne Plaza, three Staybridge Suites and one Hotel Indigo.
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