The Investment Fund and the InterContinental Hotels Group renew the ‎partnership agreements

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 the next ten years.
The agreements were signed by Mrs. Kholoud Saqqaf ,SSIF CEO and  Vice Chairperson of the Investment Board and Mr. Pascal Gauvin IHG Chief Operating Officer of  India, Middle East and Africa, announcing the continuation of operating the 3 prominent properties beside the other properties owned by the Fund under IHG management ; 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  tourism sector with a portfolio that totaled JD 250 million,  and is willing to  expand its direct and indirect investments, Saqqaf  attributed this strategic direction to the sector’s immense potential to develop into a full-fledged, competitive industry and provide better services to tourists.

SSIF CEO added that the Fund is delighted to  strengthen  its strategic partnership with high-profile international partners such as IHG as both parties witnessed a significant growth in this  industry and in the capabilities of the manpower to deliver excellent services that adhere to the high standards.

Commenting on the signing, Mr. Pascal Gauvin, said: “We are honoured 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 owning a number of 4 and 5 stars hotels that are managed by IHG, these hotels created around 1400 jobs for local residents. The Fund also owns stakes in a number of leading companies in this sector in Amman, Dead Sea and Aqaba .

To pay the local community back, these hotels participates in and sponsor many CSR initiatives. ‎One of these initiatives‎ 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 in addition to  then to be hired by these hotels. The training program ‎also includes IT skills, English language and soft skills. The number of trainees and graduates is 80 young women and men from Jordan Valley.