01 June 2023

Saudi Arabia’s Tourism Development Fund (TDF) last month signed a series of agreements to develop hospitality projects in the region. The deals were inked with Minor Hotels, a hotel owner, operator and investor, Radisson Hotel Group, Hyatt Hotels, Shada Real Estate Development and Investment Company and Golden Frond Hotel Services Company, a subsidiary of the Afyaa Group.

TDF has partnered with Minor Hotels to jointly develop and operate high-quality mountain resorts, wellness resorts and urban hotels over the next couple of years. The first project under this partnership is expected to be announced in the second half this year.

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 group’s flagship brands include Anantara, Avani, Tivoli and Oaks and hospitality projects under these brands will be established in locations across Saudi Arabia mutually agreed by both parties.

TDF’s Memorandum of Understanding (MoU) with the Radisson Hotel Group will see the leading international hotel group grow its portfolio to a total over 50 hotels in the kingdom. Radisson currently has 26 hotels and resorts and more than 20 properties under development in the kingdom, across several of its leading brands.

According to TDF, the first project under this memorandum is expected to be announced in H2 of 2023.

Another hospitality chain to have tied up with TDF is an affiliate of Hyatt Hotels which will establish several hospitality-led destinations which may include beach and urban hotels, as well as mountain, desert and farm retreats.

Meanwhile, TDF said it has signed a finance agreement with Golden Frond Hotel Services Company to build a five-star ecolodge in the Al Ahsa region. The new resort will boast 25 lodging pods featuring one- and two-bedroom units as well as several key facilities including farm-to-table dining units as well as spa, local arts and crafts, and a selection of unique activities.  Another finance agreement was inked by TDF with Shada Real Estate Development and Investment Company to set up a four-star boutique hotel featuring 110 hotel rooms in Jeddah.

Announcing the strategic partnership at the recent Future Hospitality Summit (FHIS) in Riyadh, TDF said the hotel will be characterised by its design, inspired by the local style mixed with architectural touches specific to the Makkah region. 

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