Intercontinental Hotels Group to develop fourth Holiday Inn in Al Khobar, Saudi

The hospitality group has signed an agreement with real estate company RIKAZ Properties Intercontinental Hotels Group will be developing its fourth Holiday Inn hotel in Al Khobar — Holiday Inn Al Khobar King Fahd Road — after signing a management agreement with real estate company RIKAZ Properties. Expected to open in January 2021, the 140-key property will feature an outdoor pool, a lobby lounge, food & beverage outlets and a gymnasium. Speaking about the new property Pascal Gauvin, MD, India, Middle East & Africa, IHG said, “We are delighted to sign an agreement with RIKAZ Properties for Holiday Inn Al Khobar King Fahd Road and strengthen our mainstream offering in the Kingdom of Saudi Arabia. We have a strong legacy in the Kingdom and are committed to leveraging the growth opportunities that Vision 2030 presents by expanding our presence across the country through our portfolio of global brands. With a number of recent signings in Saudi Arabia, across our brands such as Holiday Inn, voco and Crowne Plaza, we are growing our presence in key cities and gearing up to cater to the needs of diverse guest profiles expected to visit the country in the coming years.”Earlier this year the hospitality group signed two Holiday Inn properties in Madinah and Jeddah. “We are delighted to be partnering with IHG for our new venture. We have witnessed strong tourism figures and hotel occupancy rates in Saudi Arabia. Tourism is a focal point under the government’s vision 2030 - according to MAS (Tourism Research & Information Centre), the number of international trips made to Saudi Arabia is estimated to increase from 18 million in 2015 to 25.8 million in 2020. The Holiday Inn brand has an international appeal and we are confident that this latest hotel will perform successfully and cater to the increasing demand for midscale accommodation in the country,” said Khalid Al Gahtani, Chairman, RIKAZ Properties. IHG currently operates 92 hotels across 7 brands in the Middle East, including: InterContinental, Crowne Plaza, Holiday Inn, Holiday Inn Express, Staybridge Suites, voco and Six Senses Hotels Resorts with a further 41 in the development pipeline due to open within the next three to five years.

Oyo Hotels & Homes to invest in machine learning intelligence technology

Through the acquisition the company is aiming to drive “top-line growth by leveraging dynamic pricing across all its brands” ndia’s Oyo Hotels & Homes has acquired Danamica, a Copenhagen-based data science company, with machine learning and business intelligence capabilities, specialising in dynamic pricing. With this acquisition Oyo is aiming to drive “top-line growth by leveraging dynamic pricing across all its brands”. Commenting on the development, Maninder Gulati, global head, oyo vacation and urban homes, & chief strategy officer, Oyo Hotels & Homes, said, “Danamica, a Europe based, machine learning and business intelligence company specialised in dynamic pricing will help us be more accurate with pricing, leading to higher efficiencies and yield for our real estate owners and value for money for our millions of global guests, both everyday travellers and city dwellers, that choose an Oyo Vacation Homes as their abode.” Last month, the company said it would invest €300 million in the vacation homes business in Europe. The company also signed a partnership valued at Dh18 billion (US$5 billion) with UAE-based IBC Group’s Gallery Suites Vacation Rentals to manage 10,000 premier holiday homes in Dubai.

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