Riyadh, Saudi Arabia – 4th May 2023: IHG Hotels & Resorts, one the of the world’s largest hotel groups, with 6000 hotels across 18 brands, has signed a management agreement with The King Abdullah Financial District Management and Development Company (KAFD DMC), a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), to bring the first Kimpton hotel in the region to Riyadh, Saudi Arabia.
Offering guests a personalized luxury experience, the Kimpton brand has a heartfelt approach to hospitality that has translated to unique, design-led hotels across the globe. The new Kimpton Riyadh will join existing Kimpton properties across countries including the United States, France and Scotland.
With doors set to open in June 2024, the 212-key Kimpton Riyadh will mark the first foray of the luxury brand in the region. The debut comes as part of IHG’s ongoing growth strategy, aligned with the objectives of Crown Prince Mohammed Bin Salman’s Vision 2030 tourism objectives, to cater to a growing number of guests in the Kingdom who seek unique luxury experiences.
In acknowledgement of the new trend towards blended travel, KAFD offers entertainment and retail, alongside its commercial office space and hospitality offerings. The Kimpton Riyadh will be a new-build property in the heart of KAFD, Saudi Arabia’s prime business and lifestyle destination, making it a key destination hotel for the discerning business traveller. However, in acknowledgement of the new trend towards blended travel, the hotel will also cater to those who seek a lifestyle element to their stay.
Set in the heart of the Saudi capital Riyadh, 22-kilometers away from the airport, KAFD is home to 1.6 million square meters of state-of-the-art office space, world-class venues and iconic luxury residences, designed to transform the way urban communities live, work, and play. A landmark development, KAFD is a key driver of Riyadh’s economic ambitions and is the largest LEED certified mixed-use financial district in the world. It is owned and managed by the King Abdullah Financial District Development and Management Company (KAFD DMC).
As such, for those visiting the capital for work, there are several meeting spaces and banqueting areas, including both casual and formal working options. For more leisure time, the hotel will offer five F&B options to guests, including an all-day dining restaurant, a specialty restaurant, a lobby lounge, a lobby living room café and a pool bar with mezzanine seating. Kimpton Riyadh will also host an outdoor amphitheater terrace, health club, and an outdoor swimming pool.
Aligned with IHG’s luxury halo vision for KSA and the wider IMEA region, the new property seeks to cater to corporate executives and high net worth Saudi Arabian families looking for a luxury lifestyle element to their hotel, so that they can welcome visiting family and friends as part of their stay.
Haitham Mattar, Managing Director, IHG Hotels & Resorts India, Middle East and Africa, said, “We remain committed to supporting the tourism goals of Vision 2030 across Saudi Arabia, and catering to the demands of the growing numbers of visitors to the Kingdom. We have identified a trend towards blended travel, with those travelling for work or business also seeking a lifestyle element to their stay.”
He added: “As we debut Kimpton Hotels in the region, we are confident that this luxury lifestyle offering can meet that requirement and we are looking forward to expanding further into the region in the coming years.”
Commenting on the new partnership, Gautam Sashittal, Chief Executive Officer at KAFD DMC, said, “Saudi Arabia is one of the few countries in the world that saw a rise in tourism investment and expenditure during the Covid-19 pandemic with domestic tourism increasing by 33.6% and over SAR80 billion spent by tourists. Now, as the Kingdom cements its presence on the world stage as a business and leisure destination, these numbers will be dwarfed. We are delighted to partner with a trusted management company in IHG, who will enable us to partner traditional Saudi hospitality with expertise in hotel management, as we look to make KAFD an essential part of the business landscape of the Kingdom. Kimpton Riyadh at KAFD will enable us to welcome diverse visitors for work, leisure or both.”
IHG currently operates 37 hotels across five brands in Saudi Arabia, including: InterContinental, Crowne Plaza, Holiday Inn, Staybridge Suites, and voco, with 31 hotels in the development pipeline set to open within the next three to five years.
