TDF signs MoU with Hyatt to bring beach, mountain, farm stay experiences to Saudi

Saudi Arabia’s Tourism Development Fund signed an agreement with Hyatt Hotels to bring more luxury stay options to regions across the Kingdom.

The agreement will see the development of beach-facing and city hotels, as well as mountain, desert and farm retreats, with a focus on experiences and wellness, the Saudi Press Agency reported on Thursday.

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The Hyatt brand is expected to bring their Alila Resorts chain and Park Hyatt, Hyatt Centric, Grand Hyatt, among others, to the Kingdom.

“Saudi Arabia is the largest emerging market in the Middle East and has made significant advances across sectors to springboard its economy. The country has been recognized as one of the world’s fastest growing tourism destinations and we see this as a great opportunity to expand Hyatt’s brand footprint while providing exquisite service and care to local and international high-end travelers,” Regional Vice President, Development – Middle East and Africa Ludwig Bouldoukian was quoted as saying by SPA.

“The development of these hotels would be part of the Kingdom’s National Tourism Strategy and in line with Saudi Vision 2030,” according to the SPA report.

“This collaboration with Hyatt will help us to attract tourists and ensure that they receive a comfortable, high-quality experience in the Kingdom’s top tourism destinations,” TDF CEO Qusai al-Fakhri said.

Hyatt offers a variety of hotels and resorts for luxury and business travelers across Europe, the Middle East, and Africa.

On Tuesday, SPA reported that the Anantara and Avani chain of the hotel’s parent company Minor Hotels signed an agreement with TDF 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.

Since 2020, a year after Saudi Arabia opened its doors to international tourists, TDF has been tasked with promoting tourism investment in the country to attract 100 million tourists by 2030.

The fund intends to provide financial resources and expertise to entrepreneurs worldwide looking to invest in the ten key destinations across Saudi Arabia.

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

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.

Read more:

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

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