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.