British multinational hospitality company InterContinental Hotels Group (IHG) has signed a Master Development Agreement (MDA) with Ishraq Hospitality, a division of the Dubai-based Mohamed & Obaid Almulla Group, to establish eight hotels under its midscale brand, Holiday Inn Express (HIEX), in the Middle East and Africa (MEA) region.
As per the agreement, the new hotel openings will be in the United Arab Emirates, Sultanate of Oman, Bahrain, Jordan, and Egypt. Ishraq Hospitality, which operates HIEX under the IHG franchise, currently owns four Holiday Inn Express hotels in the UAE in collaboration with IHG.
Holiday Inn Express is one of IHG’s fastest-growing hotel brands. The brand debut in Oman, Bahrain, Jordan, and Egypt will enhance the current Holiday Inn brand family portfolio of IHG and solidify the role of IHG as one of the leading hospitality players in the region.
Ishraq Hospitality has an impressive hospitality management track record and, the partnership will help expand its horizons to establish the regional presence.
“We are delighted to sign this agreement with Ishraq Hospitality, which will bring the Holiday Inn Express brand to the forefront in the Middle East and further strengthen our midscale offering in the MEA region. We are proud to continue our relationship with Ishraq Hospitality with whom we share a common vision for the travel and tourism industry in the region. The hospitality sector has faced great challenges in response to COVID-19, however, such signings reaffirm a positive future outlook for the industry. We are excited about this new venture and look forward to welcoming guests to these highly anticipated locations shortly.”
Sherif Beshara, Group CEO of Mohamed & Obaid Almulla Group, the holding company of Ishraq Hospitality said, “We are proud to further strengthen our partnership with IHG, given our already strong, successful relationship with them. This agreement solidifies and endorses Ishraq Hospitality as a renowned hospitality management company under the IHG franchise. This signing presents us with more opportunities to reinforce and build on our Holiday Inn Express portfolio in MEA.”
“There is ample evidence of the strength of the region’s economy and the robust potential of its hospitality sector, and we are committed to accelerating this growth, along with IHG, our trusted partner. Given IHG’s global expertise in hospitality, their signature flair, and strong legacy in the region, I am confident that the opening of the hotels in enviably strategic locations will successfully cater to all the needs of modern business and leisure travelers,” added Mr. Beshara.
IHG currently operates 95 hotels across seven brands, including InterContinental, Crowne Plaza, Holiday Inn, Holiday Inn Express, Staybridge Suites, voco, and Six Senses in the Middle East region.