Riyadh — The Tourism Development Fund (TDF) Tuesday announced the signing of a Memorandum of Understanding (MoU). The MoU was signed with TDF and Melia Hotels International, one of the world’s leading hotel groups in the leisure segment.
The MoU was signed at TDF’s headquarters in Riyadh by Qusai Al-Fakhri, CEO of the Tourism Development Fund. It was also signed by Gabriel Escarrer, CEO and vice-chairman of Melia Hotels International.
TDF and Melia Hotels International will work on new tourism concepts focused on Leisure, F&B, and Entertainment.
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All of this work will be in accordance with three critical destinations under the National Tourism Strategy. These destinations include Jeddah, Riyadh, and the Eastern Province.
By enhancing the entertainment and tourism offerings within these areas earmarked for development, TDF contributes toward the objectives of the National Tourism Strategy. TDF aims to improve the quality of life for residents and tourists alike.
Furthermore, the MoU is in line with the Fund’s focus on diversifying investments within the Kingdom. They plan on doing so by launching hotel projects in compliance with the best international industry standards.
Qusai Al-Fakhri, CEO of TDF, said:
“The MoU with Melia Hotels International is an extension of our ongoing efforts. These efforts are 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 Melia Hotels International is a step towards the Kingdom’s transformation into a leading tourism destination globally.”
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Gabriel Escarrer, CEO and vice-chairman of Melia Hotels International, made a statement. He said:
“Saudi Arabia’s natural and geographic diversity offers promising opportunities to develop high-quality hospitality projects.
“In that respect, we are pleased to establish this MoU with the Tourism Development Fund. We look forward to playing a role in the achievement of the ambitious objectives of Saudi Vision 2030.
“We are committed to developing these three projects according to the highest international standards and in line with the Kingdom’s distinct identity on the world stage.”
Through the MoU and TDF, Melia Hotels International will develop high-quality tourism destinations. This will have a total project value of more than SR 1 billion ($266.5 million) for all three goals. — SPA