IHG Signs Kimpton Hotel in Riyadh, Saudi Arabia

(05/05/23)  IHG 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), for the first Kimpton hotel in the Middle East.

Scheduled to open in June 2024, the 212-key Kimpton Riyadh will be a new-build property in the heart of KAFD, one of Saudi Arabia’s prime business and lifestyle destinations.

Set in the heart of the Saudi capital Riyadh, 22-kilometers away from the airport, KAFD is home to 1.6 million square meters of state-of-the-art office space, world-class venues and luxury residences.

A landmark development, KAFD is a key driver of Riyadh’s economic ambitions and is the largest LEED certified mixed-use financial district in the world. It is owned and managed by KAFD DMC.

IHG signs HMA with KAFD DMC for the first Kimpton Hotel in Saudi Arabia

“Saudi Arabia is one of the few countries in the world that saw a rise in tourism investment and expenditure during the COVID19 pandemic with domestic tourism increasing by 33.6% and over SAR80 billion spent by tourists,” said Gautam Sashittal, Chief Executive Officer at KAFD DMC. “Now, as the Kingdom cements its presence on the world stage as a business and leisure destination, these numbers will be dwarfed. We are delighted to partner with a trusted management company in IHG, who will enable us to partner traditional Saudi hospitality with expertise in hotel management, as we look to make KAFD an essential part of the business landscape of the Kingdom. Kimpton Riyadh at KAFD will enable us to welcome diverse visitors for work, leisure or both.”

The Kimpton Riyadh will feature five F&B options, a variety of meeting and event spaces, an outdoor amphitheater terrace, a health club and an outdoor swimming pool.

IHG currently operates 37 hotels across five brands in Saudi Arabia, including: InterContinental, Crowne Plaza, Holiday Inn, Staybridge Suites, and voco, with 31 hotels in the development pipeline set to open within the next three to five years.

“We remain committed to supporting the tourism goals of Vision 2030 across Saudi Arabia, and catering to the demands of the growing numbers of visitors to the Kingdom. We have identified a trend towards blended travel, with those travelling for work or business also seeking a lifestyle element to their stay,” said Haitham Mattar, Managing Director, IHG Hotels & Resorts India, Middle East and Africa. “As we debut Kimpton Hotels in the region, we are confident that this luxury lifestyle offering can meet that requirement and we are looking forward to expanding further into the region in the coming years.”

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