https://arab.news/jfavy
RIYADH: Saudi Arabia’s hospitality sector has received a huge fillip with the UK-based IHG Hotels & Resorts opening its headquarters in the capital.
In a press statement released on Monday, IHG revealed that the company is eyeing to expand in Saudi Arabia, with 50 percent of its development in the Middle East region focused on the Kingdom.
Since the launch of InterContinental Riyadh in 1975, IHG has been rapidly expanding its presence in the Kingdom. The group currently runs 40 hotels in Saudi Arabia, offering 18,000 rooms. It also has 32 hotels under construction in the Kingdom.
“As we continue to attract investment and foster growth in Saudi Arabia’s tourism sector, IHG Hotels & Resorts’ substantial expansion within our borders is a testament to the promising opportunities the Kingdom offers,” said Mahmoud Abdulhadi, Saudi Arabia’s deputy minister of tourism destinations enablement in the Tourism Ministry.
He added: “This commitment to investing in our market aligns with our mission to create a dynamic, investor-friendly environment aimed at driving economic diversification. This, in turn, brings us closer to realizing Saudi Vision 2030.”
Developing the hospitality sector is crucial for Saudi Arabia, as it is moving away from its dependence on oil and is currently focusing on strengthening areas like tourism as a part of its economic diversification efforts.
In the statement, IHG revealed that the ongoing expansion will be aligned with the Kingdom’s Saudization goals.
About 1,700 employees, or 44 percent of the group’s total workforce in the Kingdom, are Saudi nationals, and IHG aims to raise this number to 6,000 by the end of this decade.
“Saudi Arabia stands as a primary focus for IHG, and our decision to establish a stronger local presence in the country through the new country headquarters in Riyadh reinforces our commitment to this dynamic region,” said Haitham Mattar, managing director of IHG Hotels & Resorts for the Middle East, Africa and southwest Asia.
He added: “IHG has been heavily focused on developing strategy and business plans that align with the vision of the leadership of Saudi Arabia to deliver on the economic and tourism growth ambitions for the country.”
Moataz Kurdi, deputy minister of policies and regulations at the Saudi Tourism Ministry, said that the Kingdom is strategically positioning itself as a global destination for travelers worldwide.
“IHG Hotels & Resorts’ commitment to this vision, exemplified by the opening of their Saudi headquarters in Riyadh, reflects our joint dedication to Saudi Vision 2030,” added Kurdi.