Minor Hotels announces the signing of a Memorandum of Understanding (MoU) with Saudi Arabia’s Tourism Development Fund to jointly develop and operate hospitality and lifestyle projects within the Kingdom. The first project under this partnership is expected to be announced in H2 this year.
The partnership will see the development of multiple hospitality projects and Minor Hotels will act as an operator and partner in each of the projects. The group’s flagship brands include Anantara, Avani, Tivoli and Oaks and hospitality projects under these brands will be established in locations across Saudi Arabia mutually agreed by both parties.
The development of these hotels and resorts is consistent with the Kingdom’s National Tourism Strategy (NTS) and in line with the Saudi Vision 2030. The projects will be developed in the targeted tourism destinations specified in the National Tourism Strategy and will be announced soon. Minor Hotels’ Avani Hotels & Resorts brand will also debut in the Kingdom with multiple properties, where a property currently is under development in Bahrain to launch in 2024.
“The signing of this memorandum of understanding with Saudi’s Tourism Development Fund represents a significant step for Minor Hotels, enabling the group to offer a wide variety of products ranging from experiential luxury to serviced apartments, each creating a personalized product for a consumer niche. We look forward to working closely with TDF to bring these projects to fruition and to creating new iconic hospitality destinations within the Kingdom,” commented Dillip Rajakarier, Group CEO of Minor International and CEO of Minor Hotels.”
Qusai al Fakhri, CEO of Saudi Arabia’s Tourism Development Fund, said of the agreement, “This MOU and future partnership with Minor Hotels is a great step forward towards making Saudi Arabia an attractive global tourism destination. We are proud to debut Minor Hotels’ internationally recognisable brands in the Kingdom, bringing prestige to Saudi Arabia’s tourism sector.”