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FINANCIAL NEWS
IHG plans expansion in Saudi Arabia, UAE
15 Jan 2013
(MENAFN) British hotelier InterContinental Hotels Group (IHG) unveiled plans to expand its hotels portfolio in Saudi Arabia and the UAE over the coming years, Hotelier Middle East reported.
IHG India, Middle East and Africa COO Pascal Gauvin said the group plans to open eight hotels in Saudi Arabia by 2018, representing 2,500 hotel rooms.
IHG is the largest international hotel company in Saudi Arabia, with 22 hotels across the Kingdom, totaling 5,000 rooms, Gauvin said.
Gauvin identified the UAE as having most growth potential over the year ahead.
He said “Both regional and international travellers will continue to play a significant role in the growth of the tourism and hospitality industry in the UAE”. He expected the number of foreign visitors arriving in the UAE to reach nearly 19 million by 2022.
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