The partnership will drive projects in three destinations in Saudi Arabia, with a total value of US$266.5 million
The Tourism Development Fund (TDF) today announced the signing of a Memorandum of Understanding (MoU) with Melia Hotels International to bring new tourism concepts focused on leisure, F&B and entertainment to Riyadh, Jeddah and the Eastern Province under the National Tourism Strategy.
The MoU was signed at TDF’s headquarters in Riyadh by Qusai Al-Fakhri, CEO of the Tourism Development Fund and Gabriel Escarrer, CEO and Vice Chairman of Melia Hotels International.
The agreement aims to enhance the tourism and entertainment offerings within the areas earmarked for development, and is line with the TDF’s focus on diversifying investments within the kingdom by launching hotel projects in line with the Saudi Vision 2030.
Melia Hotels International CEO and vice chairman Gabriel Escarrer said: “Saudi Arabia’s natural and geographic diversity offers promising opportunities to develop high-quality hospitality projects. We are pleased to establish this MoU with the Tourism Development Fund and look forward to playing a role in the achievement of the ambitious objectives of Saudi Vision 2030.”
TDF CEO Qusai Al-Fakhri added: “The MoU with Melia Hotels International is an extension of our ongoing efforts to drive tourism development in the Kingdom in line with both the objectives of Saudi Vision 2030 and the National Tourism Strategy.
“Here at TDF, we always strive for sector growth and prosperity through MoUs and partnerships that will provide outstanding experiences and services, ultimately enhancing the kingdom’s overall tourism value proposition. This latest collaboration with Melia Hotels International is a step towards the kingdom’s transformation into a leading global tourism destination.”