The Investment Fund and InterContinental Hotels Group renew partnership

The Investment Fund and InterContinental Hotels Group renew partnership


The Investment Fund and InterContinental Hotels Group renew partnership

The Social Security Investment Fund (SSIF) and InterContinental Hotels Group (IHG) renewed the management agreements to manage Crowne Plaza Amman, Crowne Plaza Resort & Spa Dead Sea and Holiday Inn Resort Dead Sea for a ten-year period.

The agreements were signed by Kholoud Saqqaf, SSIF CEO and Vice Chairperson of the Investment Board and Pascal Gauvin, IHG Chief Operating Officer for India, Middle East and Africa. The deal also announced the continued operation of the 3 prominent properties beside those owned by the Fund under IHG management namely, Crowne Plaza Petra and InterContinental Aqaba. The ceremony was attended by Nidal Batayneh Minister of Labor, Dr. Hazem Al- Rahahleh Social Security Corporation Director General and Eng. Haitham Majali Chairman of the National Corporation for Tourism Development.

SSIF CEO said that the Fund recognizes that tourism is a major driver in national economic growth and job creation and contributes to the sustainable development of the local communities. SSIF is a major investor in the tourism sector with a portfolio totaling JD 250 million. It is also willing to expand its direct and indirect investments, which Saqqaf considers to be a strategic direction related to the sector’s immense potential of being developed into a full-fledged, competitive industry that will provide better services to tourists.

Saqqaf added that the Fund is delighted to strengthen its strategic partnership with high-profile international partners such as IHG as both parties witnessed significant growth in this industry and in the capabilities of its teams to deliver excellent high-standard services.

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Commenting on the signing, Pascal Gauvin said, “We are honored and extremely happy to be renewing our crucial and successful partnership with the Fund. As we join hands for another ten-year term, we must feel proud of the results achieved together in terms of boosting the local economy, the tourism industry and most importantly in raising the percentage of Jordanian employees to 95% in the hotels owned by the Fund.”

It’s worth mentioning that the Fund invests directly in the tourism sector through a number of 4 and 5-star hotels it owns, which IHG manages. These created around 1,400 jobs for local residents. The Fund also owns stakes in a number of leading companies in this sector in Amman, the Dead Sea and Aqaba.

To pay the local community back, these hotels participate in and sponsor many CSR initiatives. ‎One of these‎ is the Holiday Inn Dead Sea Academy. The academy provides ‎an opportunity for youth from surrounding villages to undergo training in food and beverage ‎services, food production and housekeeping. The training program ‎also includes IT skills, English language and soft skills.

InterContinental Hotels Group

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