Minor Hotels partners with Saudi Arabia’s Tourism Development Fund to develop mountain and wellness resorts

Minor Hotels, a hotel owner, operator and investor, currently with a portfolio of 530 hotels and resorts in 56 countries across Asia Pacific, the Middle East, Europe, the Americas, Africa and the Indian Ocean has signed a Memorandum of Understanding with Saudi Arabia’s Tourism Development Fund to jointly develop and operate high-quality hospitality and lifestyle projects focused on mountain resorts, wellness resorts and urban hotels within the Kingdom.

Tourism Development Fund was created in 2020 to connect the world with opportunities in the Kingdom’s high-growth tourism sectors. With USD $4 billion in funding, it aims to make the tourism investment more attractive to both lenders and investors. Saudi Arabia opened its doors to tourists in 2019. The tourism sector is a key driver of the Kingdom’s Vision 2030.

Qusai al Fakhri, Chief Executive of Saudi Arabia’s Tourism Development Fund shared “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.”

The establishment of a strategic partnership between the two parties in exclusive regions in Saudi Arabia, will see the development of multiple hospitality projects over the next couple of years. Minor Hotels will act as an operator and partner in each of the projects, which are expected to become distinct destinations in their respective locations. 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.

Dillip Rajakarier, Group Chief Executive of Minor International and Chief Executive of Minor Hotels notes “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 personalised 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.”

Saudi Arabia’s Tourism Development Fund supports tourism investment in the Kingdom, linking private sector investors with public funding opportunities and was set up to harness opportunities and fund development in the tourism ecosystem and tourism destinations across Saudi Arabia.

The luxury brand Anantara will constitute at least one of the agreed projects. Anantara is known for its experience-led and heartfelt hospitality in some of the world’s most exciting destinations. With Thai roots, Anantara Hotels, Resorts & Spas is already well known in the GCC region and has more than 10 properties in the United Arab Emirates, Oman and Qatar.

Minor Hotels’ dynamic Avani Hotels & Resorts brand will also debut in the Kingdom with multiple properties to be developed as part of the strategic partnership. The contemporary and upbeat hotel brand prioritises style, value and comfort and can be found in the United Arab Emirates and Oman, with a property currently under development in Bahrain to launch in 2024.

The partnership will also include the development of properties within the Kingdom under other Minor brands, such as Tivoli and Oaks. An industry leader in modern residential-style accommodations, Oaks Hotels, Resorts & Suites provides a home away from home for both savvy corporate travellers and leisure tourists alike. Oaks can be found in the United Arab Emirates and Qatar, with the brand also soon to launch in Egypt. Tivoli Hotels & Resorts differentiates through a range of unique and authentic experiences offered to guests, along with innovative and outstanding service. Within the region, the brand currently has three hotels in Qatar with new properties under development in Bahrain and Oman.

For more information on Minor Hotels visit minorhotels.com/en