Meliá Hotels International and the Saudi Arabian Tourism Development Fund announce the signing of a Memorandum of Understanding to collaborate on the development of projects to boost tourism in the country.
Signed at the headquarters of the Tourism Development Fund by Qusai Al-Fakhri, CEO of the fund, and Gabriel Escarrer, executive vice president and CEO of Meliá Hotels International, the MOU will bring Meliá's hospitality expertise to key destinations in Saudi Arabia such as Riyadh, Jeddah and the Eastern Province.
The hotel operator currently has nine hotels in operation in the region, including popular destinations such as Dubai and Qatar, in addition to Saudi Arabia. Through this development fund, which aims to establish a national tourism strategy, Meliá will have the opportunity to expand its premium brands and concepts in Saudi Arabia, through a project worth more than 266.5 million dollars for the three destinations.
As agreed in the Memorandum of Understanding 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 hospitality sector, thus contributing to providing one of the best possible experiences for tourists and residents.
The Tourism Development Fund (TDF) did not choose Meliá Hotels International at random, as the Saudi Minister of Tourism recently stated that "Spanish hotel operators are among the best in the world". Furthermore, the group has over 65 years of experience in the hospitality sector and is particularly well positioned in the global resort segment.
The MoU signed with Meliá Hotels International is an extension of our ongoing efforts to boost tourism development in line with the objectives of Saudi Arabia's Vision 2030 and the National Tourism Strategy. Here at TDF, we always strive to ensure the growth and prosperity of the sector through agreements and partnerships that will deliver exceptional experiences and services, which will ultimately enhance the Kingdom's overall tourism value proposition. This latest collaboration with Meliá Hotels International is another step in transforming the Kingdom into a leading global tourism destination.
Qusai Al-Fakhri, CEO of the Tourism Development Fund
With its potential, Saudi Arabia offers great opportunities for the development of high quality hospitality projects. In this sense, we welcome this partnership with the Tourism Development Fund, in which we look forward to playing a leading role in achieving its objectives. We are fully committed to all three projects, which we will certainly carry out to the highest international standards and with the passion for hospitality that defines us.
Gabriel Escarrer, Executive Vice President and CEO of Meliá Hotels International