Anantara, Avani parent company Minor signs MoU with Saudi to develop hotels, resorts

The Anantara and Avani chain of hotel’s parent company Minor Hotels signed an agreement with Saudi Arabia’s Tourism Development Fund to develop projects across the Kingdom.

The MoU will see both parties working toward developing and operating high-quality hospitality and lifestyle projects focused on mountain resorts, wellness resorts, and urban hotels, the Saudi Press Agency reported on Tuesday.

For the latest headlines, follow our Google News channel online or via the app.

The first project under this partnership is expected to be announced in the second half of 2023, some of which will see the establishment of Minor’s flagship brands of Anantara, Avani, Tivoli and Oaks in “exclusive regions,” according to the SPA report, in line with the Kingdom’s Vision 2030.

The group currently owns 530 hotels and resorts in 56 countries, including in the Middle East.

Saudi Arabia’s TDF was established in 2020 to find opportunities and fund development within the tourism ecosystem in the Kingdom. It helps link private-sector investors with public funding opportunities.

The Avani Hotels & Resorts chain will debut in the Kingdom with multiple properties to be developed as part of the strategic partnership, the report said.

Saudi Arabia plans to open 315,000 new hotel rooms by 2030, according to an April report from property consultancy Knight Frank.

This would mean that the number of hotel rooms in the Kingdom would be more than double those in the neighboring tourist hotspot of Dubai, which currently has 140,000 rooms.

Saudi Arabia is looking at accelerating tourism revenue as part of its ambitious Vision 2030 plans, an initiative aimed at diversifying the Kingdom’s economy, from education reforms to high-profile projects such as NEOM and the Red Sea Project, a vast 28,000 square-kilometer tourism destination along the Kingdom’s west coast.

Read more:

Exclusive first look: NEOM’s Sindalah to showcase Saudi Arabia to the world

Saudi Red Sea Global launches new adventure sports brand for megaproject’s guests

AlUla, Dubai, London top Saudi Arabia’s travel trends: Report