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IHG signs MDA with Ishraq Hospitality
IHG Hotels & Resorts, one of the world's leading hotel companies, has recently signed a Master Development Agreement (MDA) with Ishraq Hospitality, a division of the Dubai-based Mohamed & Obaid Almulla Group, to develop eight hotels across IHG's midscale brand in the MEA region. The multi-property portfolio license will see new hotel openings in the United Arab Emirates, Sultanate of Oman, Bahrain, Jordan and Egypt in the near term. Ishraq Hospitality, which operates Holiday Inn Express (HIEX) under the IHG franchise, currently owns four HIEX hotels in the UAE in partnership with IHG.
This will mark the first Holiday Inn Express hotels in Oman, Bahrain, Jordan and Egypt where there is an expected build-up of demand for midscale, branded accommodation to cater to business and leisure tourists alike.
Sherif Beshara, Group CEO of Mohamed & Obaid Almulla Group, the holding company of Ishraq Hospitality, said, "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 travellers."
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