Minor Hotels Partners Saudi Arabia’s Tourism Development Fund

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(18/05/23)
 Minor Hotels – a Thailand-based hotel owner,
operator and investor, with a portfolio of 530 hotels and resorts
in 56 countries – 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.

The first project under this new partnership is
expected to be announced in the second half of this year.

“This MOU and future partnership with Minor
Hotels is a great step forward towards making Saudi Arabia an
attractive global tourism destination,” said Qusai al Fakhri, CEO
of Saudi Arabia’s Tourism Development Fund. “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 Anantara brand will constitute at least
one of the agreed projects, while multiple Avani properties will be
developed as part of the strategic partnership. Other Minor
brands, such as Tivoli and Oaks, are also expected to play a part.

“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,” said Dillip Rajakarier, Group
CEO of Minor International and CEO of Minor Hotels.

Saudi Arabia’s Tourism Development Fund supports
tourism investment in the Kingdom, linking private sector
investors with public funding opportunities. It was set up in 2020
to harness opportunities and fund development in the tourism
ecosystem and tourism destinations across Saudi Arabia.

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