IHG Hotels & Resorts, one of the world’s leading hotel companies, has announced the signing of a management agreement with the owners of Carlton Al Moaibed hotel in Al Khobar. The hotel was founded by the late ‘Abdulrahman Al Moaibed and the late George N. Frem back in 1977, to transform the hotel into Saudi Arabia’s first Vignette Collection Hotel. The new property will be refurbished and is scheduled to be rebranded by 2024. The signing of the 150-key hotel in the Eastern Province capital also marks another milestone in IHG’s over 40-year presence in the Kingdom.