Source: IHG

InterContinental Hotels Group (IHG) has signed a 20-year management agreement with Al

Khorayef & Sons Co for a 189-key Staybridge Suites hotel in Al Khobar, Kingdom of Saudi Arabia. This will be the first Staybridge Suites property in Al Khobar and the third to be announced in Saudi Arabia.

Al Khorayef & Sons Co is a group of companies established over 50 years ago in the

Kingdom with an International presence. The group is diversified into several industries including real estate development, petroleum solutions, manufacturing, trading and government contracting.

IHG is the largest international hotel group in Saudi Arabia both by number of rooms

and number of hotels. Staybridge Suites Al Khobar joins five other IHG properties operating under three brands in the city, including InterContinental Hotels & Resorts, Crowne Plaza and Holiday Inn.

The entry of Staybridge Suites is timed to meet the rising demand for extended stay

properties in Al Khobar due to its rising popularity as a regional and international business hub on Saudi Arabia's east coast. The city is also home to many employees of Saudi Aramco, the world's largest oil company, and benefits from a high number of leisure travellers during summer and winter school holidays that prefer to stay in hotels that give them access to home-like comforts on the road.

The strategic location of the hotel on Al Khobar's King Fahd Road also makes it

convenient for guests travelling to the nearby cities of Damman and Dhahran. Once complete, Staybridge Suites Al Khobar will form part of a larger mixed-use development which will include multiple retail and food and beverage outlets.

Pascal Gauvin, Chief Operating Officer, Middle East, India & Africa,

IHG commented: "With five properties currently in Al Khobar, we have a strong presence and in-depth knowledge of the area. Through the years we have observed its growth potential as a hub for both business and leisure travellers. This is our third Staybridge Suites to be announced in the Kingdom of Saudi Arabia, in response to a growing demand for extended stay properties and we predict a strong future for the brand across the Kingdom".

Bandar Alkhorayef, CEO of Al Khorayef & Sons Co added: "The King Fahd Road

development is an exciting prospect for Al Khobar as the city continues to expand and business in the area is set to flourish. With the brand's stellar reputation, Staybridge Suites Al Khobar puts Alkhorayef Tower in a good position to attract extended-stay guests looking for a home away from home."

The Staybridge Suites brand launched in 1998 and the first Staybridge Suites in the

Middle East opened in Cairo in 2008, and in Abu Dhabi in 2009. The brand is across the Middle East with seven properties in the pipeline for the region.

IHG currently operates 24 hotels in Saudi Arabia, with nine hotels due to open within the

next three to five years.

About IHG®

IHG Hotels & Resorts [LON:IHG, NYSE:IHG (ADRs)] is a global hospitality company, with a purpose to provide True Hospitality for Good.

With a family of 17 hotel brands and IHG Rewards, one of the world's largest hotel loyalty programmes, IHG has over 6,000 open hotels in more than 100 countries, and a further 1,800 in the development pipeline.

InterContinental Hotels Group PLC is the Group's holding company and is incorporated and registered in England and Wales. Approximately 350,000 people work across IHG's hotels and corporate offices globally.

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