IHG and Ishraq Hospitality Sign Deal to Add Mid-Scale Hotels Across the Gulf

Main Photo: One of the new Holiday Inn Express hotels

Date: February 2021

Locations: The agreement will see new hotel openings in the UAE, Oman, Bahrain, Jordan and Egypt in the near term

Name: Mainly Holiday Inn Express

No. Keys: Eight hotels…Keys TBA

Partner: Ishraq Hospitality, which operates HIEX under the IHG franchise, currently owns four Holiday Inn Express hotels in the UAE in partnership with IHG.

Brand: Global hospitality giant IHG has signed a new agreement to develop eight hotels across the Gulf and wider Middle East region.

IHG Hotels & Resorts said it has inked a master development agreement with Ishraq Hospitality, a division of the Dubai-based Mohamed & Obaid Almulla Group, to add the midscale Holiday Inn Express branded properties.

The multi-property portfolio licence will see new hotel openings in the UAE, Oman, Bahrain, Jordan and Egypt in the near term, IHG said in a statement.

IHG said the agreement will mark the first Holiday Inn Express hotels in Oman, Bahrain, Jordan and Egypt where there is an expected build-up of demand for midscale, branded accommodation to cater to business and leisure tourists alike.

Pascal Gauvin, managing director, India, Middle East and Africa, IHG, said: “We are delighted to sign this agreement with Ishraq Hospitality, which will bring the Holiday Inn Express brand to the forefront in the Middle East and further strengthen our midscale offering in the MEA region.

“The hospitality sector has faced great challenges in response to Covid-19, however, such signings reaffirm a positive future outlook for the industry”

Sherif Beshara, group CEO of Mohamed & Obaid Almulla Group, the holding company of Ishraq Hospitality, added: “There is ample evidence of the strength of the region’s economy and the robust potential of its hospitality sector… I am confident that the opening of the hotels in enviably strategic locations will successfully cater to all the needs of modern business and leisure travellers.”

IHG currently operates 95 hotels across seven brands in the Middle East, with a further 42 in the development pipeline due to open within the next three to five years.

THPT Comment: Interesting to see IHG develop their budget brands in the region where six and seven star hotels compete to be the most luxurious.

First Seen: Arabian Business

The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.

For more information – Visit www.thpt.co.uk or email info@thpt.co.uk.