Tourism Development Fund and Meliá Hotels International Join Forces To Develop New Tourism Concepts In Saudi Arabia

Palma de Mallorca, 8 July 2022 – Meliá Hotels International and the Tourism Development Fund (TDF) have announced the signing of a Memorandum of Understanding (MOU) to collaborate on the development of projects with the objective to promote tourism in Saudi Arabia.

Signed at the headquarters of the Tourism Development Fund by Qusai Al-Fakhri, CEO of the fund, and by Gabriel Escarrer, Executive Vice President and CEO of Meliá Hotels International, this Memorandum of Understanding will serve to bring Meliá’s hotel management experience to Saudi Arabia’s key destinations: Riyadh, Jeddah and the Eastern Province. The hotel group already has 9 hotels (portfolio and pipeline) in the region, in destinations such as Dubai and Qatar, in addition to Saudi Arabia.

Following the country’s national tourism strategy and with the support of the Tourism Development Fund, which seeks to provide international partners and investors with access to high-potential tourism projects, Meliá Hotels International will have the opportunity to expand its higher quality brands and concepts to Saudi Arabia, through a project of more than 266.5 million dollars for the three destinations. TDF highly values ​​Meliá’s track record of more than 65 years in the sector and its leadership in the leisure hotel segment at a global level, which supports the recent assessment by the Saudi Minister of Tourism when it considers that, “Spanish hotel companies are among the best in the world.”

As agreed in the MOU and in line with the objectives of the Saudi Fund, the collaboration with Meliá will be developed in such a way as to offer the highest international standards in the hotel industry, contributing to the best experience for tourists and residents. In the words of Qusai Al-Fakhri, CEO of the Tourism Development Fund: “The MOU signed with Meliá 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 Meliá Hotels International is a step towards the Kingdom’s transformation into a leading tourism destination globally.”

For his part, Gabriel Escarrer, Executive Vice President and CEO of Meliá Hotels International, adds that: “thanks to its potential, Saudi Arabia offers great opportunities for the development of high-quality hotel projects. In that sense, we are pleased with this collaboration with the Tourism Development Fund, in which we hope to play a leading role in achieving its goals. We are fully committed to these three projects that, without a doubt, we will carry out with the highest international standards and with the passion for hospitality that defines us”.

Jim Sullivan Managing Director
Contact us for more information about Balcony or our clients. Whether you’re about to launch a new property, or need to increase your visibility, we can talk to you about what to do, and when and how.