Minor Hotels has signed a Memorandum of Understanding (MoU) with Saudi Arabia’s Tourism Development Fund (TDF) to jointly develop and operate high-quality hospitality and lifestyle projects focused on mountain resorts, wellness resorts and urban hotels within the Kingdom.
The first project under this partnership is expected to be announced in 2H2023.
The partnership will see the development of multiple hospitality projects in the targeted tourism destinations specified in the National Tourism Strategy over the next couple of years. Minor Hotels will act as an operator and partner in each of the projects. Its flagship brands include Anantara, Avani, Tivoli and Oaks, which will be established in locations across Saudi Arabia.
Set up in 2020, Saudi Arabia’s TDF supports tourism investment in the Kingdom, linking private sector investors with public funding opportunities in the tourism ecosystem and tourism destinations across Saudi Arabia.
Dillip Rajakarier, group CEO of Minor International and CEO of Minor Hotels, said: “The signing of this MoU 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 niché.
“We look forward to working closely with TDF to bring these projects to fruition and to creating new iconic hospitality destinations within the Kingdom.”
