IHG Hotels & Resorts to expand operations in Saudi Arabia

Maher Abou Nasr, vice president of operations at Saudi Arabia IHG Hotels & Resorts (AN)
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Updated 18 May 2023
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IHG Hotels & Resorts to expand operations in Saudi Arabia

RIYADH: Saudi Arabia’s hospitality landscape will soon witness more options with IHG Hotels & Resorts, one of the world’s largest hospitality groups, all set to expand operations in the Kingdom in a move to support its growing business.

This move will allow the global hospitality firm, which owns 6,000 hotels across 18 brands, to manage its portfolio of hotels in the Kingdom from the capital city. 

“With our continued focus on Saudi Arabia and a growing footprint in the market, we look forward to expanding our operations and further strengthening on ground support to accelerate growth and performance in the Kingdom,” said Maher Abou Nasr, vice president of operations at Saudi Arabia IHG Hotels & Resorts, on the sidelines of the Future Hospitality Summit in Riyadh. 

IHG currently runs 38 hotels in the Kingdom with 18,000 rooms under three brands, Intercontinental, Crown Plaza and Holiday Inn. It also has 35 hotels under construction. 

The hospitality giant recently added Voco and Staybridge Suites and plans to introduce other brands in the luxury lifestyle segment, such as Regent and Six Senses. 

“Only last week, we announced our Kimpton with King Abdullah Financial District, which we’re very excited about,” said Abou Nasr.

IHG Hotels & Resorts signed a management agreement with the KAFD to bring the first Kimpton hotel in the region to Riyadh. 

The facility will offer guests a personalized luxury experience and join existing properties worldwide, including the US, France and Scotland. 

Catering to a broader spectrum of guests visiting the Kingdom and keeping within the Vision 2030 blueprint, the group has signed a master development agreement with Al Hokair Group to develop at least 10 Holiday Inn Express hotels within the next 15 years.  

Also in the pipeline is the Hotel Indigo brand that caters to the segment between full- and limited-service hotels. 

“A beautiful lifestyle brand that focuses on the neighborhood, Hotel Indigo brands bring the neighborhood inside the hotel,” said Abou Nasr.

The company signed a management agreement with Mohammed Bin Salman Nonprofit City for a new Hotel Indigo within the city near the Irqah area along Wadi Hanifa in Riyadh. 

Besides managing hotels, IHG Hotels & Resorts is introducing several sustainability initiatives into the market and plans to hire more Saudi nationals by 2030. 

“We have been operating hotels in Saudi Arabia since 1975. And since then, we’ve been graduating Saudi talent into the industry,” said Abou Nasr. 

Its latest initiative includes a platform which sees Saudis trained on their jobs directly within the hotel. 

In promoting sustainability, the company is working on eliminating carbon emissions and addressing food waste in hotel operations. 

“We want to manage the reduction of food waste in our properties. We look at the usage of water in highly affected areas. We look at the single-use plastics as well, and we’re eliminating that,” said Abou Nasr.

He added: “Last but not least, we look at our energy consumption within the properties, and we have many initiatives to support us on that journey.” 

 

  • CLARIFICATION: The article has been updated based on the “revised information” shared by the company in question.

Saudi stock market opens its doors to foreign investors

Updated 06 January 2026
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Saudi stock market opens its doors to foreign investors

RIYADH: Foreigners will be able to invest directly in Saudi Arabia’s stock market from Feb. 1, the Kingdom’s Capital Market Authority has announced.

The CMA’s board has approved a regulatory change which will mean the capital market, across all its segments, will be accessible to investors from around the world for direct participation.

According to a statement, the approved amendments aim to expand and diversify the base of those permitted to invest in the Main Market, thereby supporting investment inflows and enhancing market liquidity.

International investors' ownership in the capital market exceeded SR590 billion ($157.32 billion) by the end of the third quarter of 2025, while international investments in the main market reached approximately SR519 billion during the same period — an annual rise of 4 percent.

“The approved amendments eliminated the concept of the Qualified Foreign Investor in the Main Market, thereby allowing all categories of foreign investors to access the market without the need to meet qualification requirements,” said the CMA, adding: “It also eliminated the regulatory framework governing swap agreements, which were used as an option to enable non-resident foreign investors to obtain economic benefits only from listed securities, and the allowance of direct investment in shares listed on the Main Market.”

In July, the CMA approved measures to simplify the procedures for opening and operating investment accounts for certain categories of investors. These included natural foreign investors residing in one of the Gulf Cooperation Council countries, as well as those who had previously resided in the Kingdom or in any GCC country. 

This step represented an interim phase leading up to the decision announced today, with the aim of increasing confidence among participants in the Main Market and supporting the local economy.

Saudi Arabia, which ‌is more than halfway ‍through an economic plan ‍to reduce its dependence on oil, ‍has been trying to attract foreign investors, including by establishing exchange-traded funds with Asian partners in Japan and Hong Kong.