Ishraq has obtained the exclusive license to develop, own and operate Holiday Inn Express® budget hotels in Bahrain, Kuwait, Oman, Qatar, and the UAE. It is also a preferred developer in Jordan. With 22 hotels projected to become operational throughout the region over the next five years, Ishraq will manage the entire development process of each of these properties to maintain the exceptionally high standards of the Holiday Inn Express® brand.

The  Holiday Inn Express® concept, which has been adapted to the Middle East, addresses the regional market need for internationally – branded budget accommodation, providing clean, comfortable and affordable rooms for business and leisure travelers to the region at affordable prices.

The expected investment for the development and operation of the 22 properties is in excess of USD 400 million, with 50% of these developments planned for the UAE and the remainder in Bahrain, Jordan, Kuwait, Oman, and Qatar. With a construction schedule of between 12 and 18 months for each project, completion of the first Middle Eastern Holiday Inn Express® hotel – at Internet City in Dubai – is projected for the 2nd quarter of 2007.

All  Holiday Inn Express® hotels developed by Ishraq will be part of the HOLIDEX reservation system, which provides guests with access to full global reservation services including online booking confirmation. The hotels will also participate in the global IHG loyalty programs, so that guests can benefit from the Priority Club® Rewards program.