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IHGunveils plans for a new 110-key hotel in Abha: Global hospitality player Intercontinental Hotel Group (IHG) has signed a franchise agreement with Firdous Abha Hotel Holding to open Hotel Indigo Abha, it said in a statement. The property could open as soon as December 2025. Hotel Indigo will be under the management of Dubai-based Aleph Hospitality. The commercial terms of the agreement were not announced.
Not the first announcement this month: The hospitality player is set to bring its hotel brand Voco & Suites to Jeddah, with the 110-key hotel set to open in September 2024, it said in a statement last week. The hotel is part of a management agreement signed with Dubai-based investment firm Rusd Capital.
About IHG Hotels: IHG Hotels & Resorts boasts a diverse portfolio of 18 hotel brands and 6k hotels globally. The hospitality player has 2k hotels and 292k rooms in the pipeline.
In numbers: The company’s bottom line rose 42% y-o-y to USD 376 in 2022, after incurring losses worth USD 260 mn in 2020. Its top line soared 34% y-o-y to USD 3.9 bn in 2022.
