IHG® Partners with The Red Sea Development Company to Open InterContinental Resort Red Sea

31 October 2021: IHGHotels Resorts, one of the worlds leading hotel companies, has announced the signing of a Management Agreement with The Red Sea Development Company (TRSDC), an affiliate of Saudi Arabias Public Investment Fund (PIF) to open the InterContinental Resort Red Sea in the Kingdom of Saudi Arabia. Situated within the premium Red Sea Development destination, the new InterContinental Resort is scheduled to open during Phase One of The Red Sea Projects development. Activity for the first phase of development is well underway and is on track to be completed by the end of 2023.

Speaking on the announcement, Haitham Mattar, Managing Director, India, Middle East Africa, IHG said: With a strong legacy in the country, we remain committed to leveraging thegrowthopportunities that are aligned with Saudis Vision 2030 and the priority destinations highlighted within the Saudi Tourism Strategy. We are excited to partner with The Red Sea Development Company, one of the worlds most ambitious regenerative projects, to strengthen our offering in Saudi Arabia and collaborate on sustainability related initiatives to protect the natural, historical and cultural environments that make this destination unique. These initiatives are in line with IHGs Journey to Tomorrow, a 10-year action plan focused on commitments to drive change for people, communities and the planet.

We also look forward to building scale in the Kingdom to deliver a landmark development that will cater to the needs of diverse guest profiles expected to visit the country in the coming years.

The announcement comes during Intercontinental Hotels and Resorts diamond anniversary celebrations, marking 75 years of pioneering luxury travel witha celebration of rich heritage, iconic hotels and exclusiveexperiences. The brand has become synonymous with bold exploration, travel and cultural discovery and the InterContinental Resort Red Sea will exemplify these attributes. Set within one of the worlds most ambitious luxury tourism developments amidst an archipelago of over 90 pristine islands, the hotel will offer guests sweeping views of the desert and dramatic mountain landscapes, with unparalleled diversity for discerning global travellers.

Each of the resorts 210 sea-facing rooms will provide immediate beach access; allowing guests to step out on to the sands of the Red Sea from the terrace. Moreover, the resort will feature seven different gastronomic experiences, sprawling pools and recreational facilities, a spa, a health club, and meetings and events spaces for leisure and business travellers and groups.

John Pagano, CEO, The Red Sea Development Company and Amaala said: Given IHGs global expertise and strong legacy in the Kingdom, we are delighted to partner with them to bring world-class hospitality to our guests at The Red Sea Project. IHG is the ideal partner to build our hospitality offerings, shaping guest experience and taking it to the next level. With their understanding of the local landscape, high standards of quality, their impeccable service and clear focus on sustainability and responsible travel, we are confident that this partnership will see best-in-class results and we look forward to welcoming guests to this luxury leisure destination.

In addition to The Red Sea Development, PIF is developing several giga-projects across Saudi Arabia including Qiddiya, AMAALA, Riyadh Central, Diriyah Gate, Jeddah Downtown, Rua Al Haram, Rua Al Madinah, Al Ula, NEOM, and King Abdullah Financial District. When completed, the Red Sea Development is set to be amongst the most premium leisure destinations in the Kingdom.

IHG currently operates 37 hotels in Saudi Arabia across five brands including InterContinental,Crowne Plaza,Holiday Inn,Staybridge Suites and voco. A further 23 hotels are in the development pipeline, due to open within the next three to five years.

**Numbers as ofJune 30, 2021