RIYADH: Tourists visiting Saudi Arabia will have access to a new slate of hotels and resorts thanks to an agreement between the Tourism Development Fund and Radisson Hotel Group.
The memorandum of understanding between both parties aims to develop several hospitality and tourism projects across the Kingdom, Saudi Press Agency reported.
The first set of anticipated projects is expected to be disclosed during the second half of 2023.
This strategic partnership between the two entities will witness the development of several properties, including hotels, resorts, and hotel apartments, among other hospitality-related facilities.
The projects will be developed over the coming years in the targeted destinations according to the National Tourism Strategy in line with the Kingdom’s Vision 2030.
The MoU aligns with the framework of the Tourism Development Fund’s mission to enable world-class companies to invest, develop, and operate projects in the Kingdom’s hospitality, lifestyle, and entertainment sector.
“We are pleased to welcome Radisson Hotel Group today in the Kingdom, as the group includes a list of the most famous international hotels, and has branches spread throughout the Kingdom, and we look forward together to expand their scope of work in line with the National Tourism Strategy,” CEO of the Tourism Development Fund Qusai Al-Fakhri said.
“Radisson Hotel Group continues to introduce more of its brands to the Kingdom of Saudi Arabia through cooperation with major investors in the field of tourism and hospitality,” Vice Chairman of the Board of Directors of Radisson Hotel Group Federico Gonzalez added.
“The Kingdom’s Vision 2030 opens huge horizons at the level of various sectors, among them is hospitality, and we are pleased to partner with the Tourism Development Fund to continue our contribution to driving this growth and bright future,” Gonzalez went on to say.
Earlier in May, a top official of the Radisson Hotel Group revealed the company is planning to expand its presence in the Kingdom with a total of 100 properties in the next five years.
Talking to Arab News on the sidelines of the Future Hospitality Summit in Riyadh, Elie Younes, executive vice president and global chief development officer at Radisson Hotel Group, said the planned expansion will help create more job opportunities in Saudi Arabia.
“Currently, we have around 50 hotels, almost … in Saudi Arabia; 25 hotels open and 25 hotels under construction as we speak. Our plan for the next five years is to double that. And that means to have almost 100 hotels across Saudi Arabia,” Younes said.
The Saudi Tourism Development Fund also signed another MoU with Hyatt Hotels Group to further elevate the number of hospitality destinations in the Kingdom.
The MoU includes beach hotels as well as hospitality facilities within cities, mountains, deserts, and farms.
Under the terms of the agreement, the new projects will be developed under existing brands of the Hyatt group, including Park Hyatt, Hyatt Centric, Grand Hyatt, among others.
“Saudi Arabia is the largest emerging market in the Middle East and has made great progress in various sectors including tourism and hospitality,” Hyatt’s Regional Vice President of Development in the Middle East and Africa Ludwig Bouldoukian said.
“We welcome this partnership and consider it a great opportunity for expanding and consolidating Hayatt's presence and providing our distinctive services to local and international visitors and tourists in the Kingdom,” he added.
Saudi Arabia’s National Tourism Strategy aims to attract 100 million visitors by 2030, along with increasing the contribution of the sector to the Kingdom’s gross domestic product to more than 10 percent. The strategy also eyes creating an additional 1 million jobs in the Kingdom.