InterContinental Hotels Group (IHG ) has signed an agreement with Dur Hospitality Co. to establish the first Holiday Inn franchise in the Tabuk Region.
The deal became effective from the signing date and will have a financial impact on second quarter results, Dur said in a statement.
The 83-room hotel, set to open later this year, is also the first hotel to be developed under the master development agreement (MDA) which was reached between the two hospitality firms last year.
The MDA will see a number of Holiday Inn hotels developed across the kingdom over the next five years, significantly enhancing the brand's footprint in the Saudi market.
Under the terms, IHG will get a portion of the operating revenue from the hotels.
The Holiday Inn currently has branches in Riyadh, Al Khobar, and Jeddah.
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}