Saudi Tourism Development Fund and Melia Hotels International join forces to develop new tourism concepts in three key destinations

The Tourism Development Fund (TDF) today announced the signing of a Memorandum of Understanding (MoU) with Melia Hotels International, one of the world’s leading hotel groups in the leisure segment.

The MoU was signed at TDF headquarters in Riyadh by Qusai Al-Fakhri, CEO of the Tourism Development Fund, and Gabriel Escarrer, CEO and Vice President of Melia Hotels International.

TDF and Melia Hotels International will bring new tourism concepts focusing on leisure, dining and entertainment to three key destinations under the National Tourism Strategy – Riyadh, Jeddah and Eastern Province. By enhancing the tourism and leisure offer within these territories dedicated to development, TDF contributes to the objectives of the National Tourism Strategy while improving the quality of life of residents and tourists.

Furthermore, the MoU is in line with the Fund’s focus on diversifying investments within the Kingdom by launching hotel projects that meet the highest international industry standards.

Qusai Al-Fakhri, CEO of TDFsaid, “The MoU with Melia Hotels International is an extension of our ongoing efforts to drive tourism development in the Kingdom in line with the goals of Saudi Vision 2030 and the National Tourism Strategy.”

“At TDF, we are always striving to ensure the growth and prosperity of the sector through MoUs and partnerships that will deliver exceptional experiences and services, thereby enhancing the Kingdom’s overall tourism value proposition. This latest collaboration with Melia Hotels International is a step towards transforming the Kingdom into a leading global tourist destination.”

Gabriel Escarrer, CEO and Vice President of Melia Hotels Internationalsaid, “Saudi Arabia’s natural and geographic diversity offers promising opportunities to develop high-quality hotel projects. In this regard, we are pleased to establish this Memorandum of Understanding with the Tourism Development Fund and look forward to playing a role in achieving the goals of Saudi Vision 2030. We are committed to developing these three projects according to the highest international standards and in accordance with the Kingdom’s distinct identity on the world stage.

Through the MoU, TDF and Melia Hotels International will develop high-quality tourist destinations, with a total project value of over SAR 1 billion (USD 266.5 million) for the three destinations.

About Melia Hotels International

Founded in 1956 in Mallorca (Spain), Meliá Hotels International operates more than 390 hotels (portfolio and pipeline) in more than 40 countries, with brands such as Gran Meliá Hotels & Resorts, Paradisus by Meliá, ME by Meliá, Meliá Hotels & Resorts, INNSiDE by Meliá, Sol by Meliá and TRYP by Wyndham. The Company is the global leader in resort hospitality, while leveraging its experience to consolidate the growing segment of the leisure-inspired urban market. Its commitment to responsible tourism led the Group to become the third most sustainable hotel company in the world in 2018, according to RobecoSam, the investment company behind the Dow Jones Sustainability Index. Meliá Hotels International is also part of the Spanish stock market index IBEX 35 and is the Spanish hotel leader in corporate reputation (Merco ranking). Follow us on Twitter, Facebook, Linkedin and Instagram