Hotel Developer To Develop And Manage Over 22 Express By Holiday Inn Hotels In Region Within Four Years To Meet Increasing Demand For Affordable, Quality Limited-Service Hotels

Ishraq Gulf Real Estate Holding BSC © today officially opened the 244 – room Express by Holiday Inn Dubai – Internet City, under the patronage of HE Mohammad Al Gergawi, Minister of State for Cabinet Affairs and Executive Chairman of Dubai Holding.

The US$30 million limited service hotel, located in the heart of new Dubai, will cater to price-conscious business and leisure travelers seeking quality lodging at affordable rates.

The VIP event was hosted by Sameer Al Ansari, Executive Chairman and CEO of Dubai International Capital and Chairman of Ishraq Gulf Real Estate Holding Company, and included senior executives and key business partners of Ishraq Gulf Real Estate Holding Company and InterContinental Hotels Group.

With the small number of internationally branded limited service hotels currently available in the Middle East, the Express by Holiday Inn brand is set to meet the rising demands for affordable accommodation with the development of more than 22 properties.  Approximately US$600 million will be invested by Ishraq within the next few years to develop the Express by Holiday Inn brand across most GCC countries.

Speaking at the opening ceremony, Sameer Al Ansari emphasized the demand for limited service hotels given the growing number of visitors to Dubai, which has evolved into a regional business centre and tourist destination.

“We are delighted to open the first Express by Holiday Inn in the Middle East.  This achievement for Ishraq is one which will help to establish it as a leader in the affordable quality accommodation sector in the Middle East.

InterContinental Hotels Group’s expertise in hospitality combined with Ishraq’s approach to meeting the current and future demands of the limited-service hotel industry represent a unique force in the industry.  This sector possesses immense potential for growth and we are confident that the Express by Holiday Inn hotels will benefit value-conscious guests at extremely competitive rates,” he said.

The four-storey Express by Holiday Inn Dubai-Internet City offers a host of onsite facilities that include a mini-gym, an ‘Express Communications Centre’ equipped with essential business facilities such as fax, internet, printing and copying services, in addition to the lounge, the “Great Room” restaurant and a complimentary daily “Great Breakfast.”

Ishraq will develop four more Express branded properties in Dubai within the next three years.  A further six hotels are planned across the UAE in the next few years.  The details of these plans will be announced shortly.

Additional Express by Holiday Inn hotels will also be developed in Bahrain, Oman, Qatar, and Kuwait within the same period.

Beyond The GCC, Ishraq and Jordan Dubai Capital have jointly agreed to develop three Express by Holiday Inn hotels in Jordan within the next three years to serve business and leisure travelers visiting Jordan.

According to a recent survey by Jones Lang LaSalle, a real estate services and money management firm, Dubai will continue to witness record occupancy numbers and high average room rates in the foreseeable future even as more global brands enter the region’s hospitality market.  The report also predicts a shift in demand to mid-range budget and limited-service hotels.

Developed by InterContinental Hotels Group, Express by Holiday Inn is the world’s largest limited-service hotel brand.  Globally, there are more than 1,750 Express by Holiday Inn properties with over 155,000 rooms offering comfort, value and convenience to international business and leisure travelers.