At least six companies have been invited to submit proposals by the end of December to design up to 36 new Holiday Inn Expresshotels across the GCC. An appointment is expected by the end of January 2005. The estimated $400 million project will see construction of 14 hotels in Saudi Arabia and 22 properties elsewhere in the GCC. Hospitality Management Services (HMS), an affiliate of Dubai-based RSP Group, is acting as developer and is looking to add another 10 hotels to the portfolio.
A tender is also expected to be issued imminently for the main consultancy package on all the hotels. A consultant is expected to be appointed by the end of February. The first tenders for various construction packages will be issued by April. UK-based Interior Motiveshas been awarded the interior design package. The entire programme is due for completion by 2009, with several hotels scheduled to open by early 2006. First on the list will be Dubai, Jeddah and Riyadh. The three-star Holiday Inn Express chain will primarily cater to business travellers with the hotels located at airports, transportation hubs and commercial areas. Saudi Real Estate Development Company (SREDCO)is the investor for the kingdom's hotels, which will cost an estimated $200 million. A private investor will fund the remaining GCC hotels. Holiday Inn Express is a subsidiary of US-based Intercontinental Group.
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