The Environmental Performance Index ranks 120 countries on their environmental health and the vitality of their ecosystems.
Holiday Inn, one of IHG Hotels & Resorts’ most iconic brands, is bringing its new design hallmarks to the Middle East for the first time, at the newly opened Holiday Inn Riyadh in Saudi Arabia. The opening marks IHG’s expansion of its mainstream brand portfolio across the Kingdom of Saudi Arabia, in line with the demand created by initiatives under Saudi Vision 2030.
IHG strengthens regional footprint with first voco resort signing in the Middle East and Africa Region
IHG® Hotels & Resorts, one of the world’s leading hotel companies, has announced the signing of a Management Agreement with Akam Al Rajhi, a joint venture between AkamAlRajhi and Al Rajhi Saudi groups. With this signing, IHG continues to expand their footprint across the MEA region and diversify their portfolio, as part of the company’s ambitious growth strategy.
According to the Q1 2023 Construction Pipeline Trend Report for the Middle East from Lodging Econometrics (LE), the hotel construction pipeline in the region increased to 581 projects/147,356 rooms, up 8% by projects and 6% by rooms year-over-year (YOY).
IHG Hotels & Resorts, one the of the world’s largest hotel groups, with 6000 hotels across 18 brands, has signed a management agreement with The King Abdullah Financial District Management and Development Company (KAFD DMC), a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), to bring the first Kimpton hotel in the region to Riyadh, Saudi Arabia.
Accor, the region’s largest international hotel operator, has introduced its new Commercial organisation and executive committee, with Kerry Healy taking the lead as Chief Commercial Officer for Premium, Midscale & Economy brands in the Middle East, Africa, Turkey & Asia Pacific.
IDeaS Revenue Solutions, the world’s leading provider of automated revenue management software and services, announced today that Michael McCartan has joined the company as area vice president for Europe, the Middle East, and Africa (EMEA) effective March 2, 2023. McCartan will drive the company’s growth and expansion in one of the hotel industry’s most strategic regions.
According to the Q4 2022 Middle East Construction Pipeline Trend Report from Lodging Econometrics (LE), at the end of the quarter, LE analysts report that the hotel construction pipeline in the region stands at 549 projects/143,637 rooms. Hotel development in the Middle East is ramping up as investors begin to see opportunity in the region again. New project announcements (NPA) in the region continued to trend upward throughout 2022, closing the quarter at 67 projects/19,837 rooms and increasing 56% YOY. Additionally, the Middle East had a record number of new hotels open in the fourth quarter, closing out the year with 81 new hotels opened in 2022, accounting for 17,736 rooms.
Middle East & Africa was the only world region to show an increase in overall hotel pipeline activity at the end of the fourth quarter, according to December 2022 data from STR.
After stronger than expected recovery last year, 2023 could see international tourist arrivals bounce back to pre-COVID-19 levels in Europe and the Middle East.
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