International Hotel Investments plc - New Corinthia Hotel in Saudi Arabia

On 6 December 2022, International Hotel Investments plc announced that its hotel operating arm Corinthia Hotels Limited signed a management agreement with Diriyah Gate Development Authority (“DGDA”) for a new Corinthia hotel in Diriyah, Saudi Arabia. The property is expected to be inaugurated in 2025 and will comprise 80 hotel rooms, 10 serviced villas, as well as a number of restaurants.

IHI explained that the project forms part of the wider development of Diriyah which is currently being regenerated into the Kingdom’s foremost historical, cultural and lifestyle destination.