Riyadh: Saudi Arabia’s Tourism Development Fund (TDF) announces the signing of a memorandum of understanding (MoU) with MINOR Hotels, a hotel owner, operator, and investor. The MoU aims to jointly develop and operate high-quality hospitality and lifestyle projects focused on mountain resorts, wellness resorts, and urban hotels within the Kingdom. The first project under this partnership is expected to be announced in the second half of 2023.
The future establishment of a strategic partnership between the two parties in exclusive regions in Saudi Arabia will see the development of multiple hospitality projects like MINOR's flagship brands of Anantara, Avani and Tivoli over the next couple of years.
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.
MINOR Hotels currently owns a portfolio of 530 hotels and resorts in 56 countries across Asia Pacific, the Middle East, Europe, the Americas, Africa, and the Indian Ocean.
The development of Anantara, Avani, Tivoli, and Oaks hotels and resorts in Saudi Arabia is consistent with the Kingdom’s National Tourism Strategy (NTS) and in line with the Saudi Vision 2030. The projects will be developed in the targeted tourism destinations specified in the NTS and will be announced soon.
Saudi Arabia’s TDF supports tourism investment in the Kingdom, linking private-sector investors with public funding opportunities. It was established in 2020 to harness opportunities and fund development in the tourism ecosystem and tourism destinations across Saudi Arabia.
The luxury brand Anantara will constitute at least one of the agreed projects. Anantara is known for its experience-led and heartfelt hospitality in some of the world’s most exciting destinations. With Thai roots, Anantara Hotels, Resorts & Spas is already well known in the GCC region and has more than 10 properties in the United Arab Emirates (UAE), Oman, and Qatar.
MINOR Hotels’ dynamic Avani Hotels & Resorts brand will also debut in the Kingdom with multiple properties to be developed as part of the strategic partnership. The contemporary and upbeat hotel brand prioritizes style, value, and comfort and can be found in the UAE and Oman, with a property currently under development in Bahrain to launch in 2024.
The partnership will also include the development of properties under other Minor brands, such as Tivoli and Oaks, within the Kingdom. An industry leader in modern residential-style accommodations, Oaks Hotels, Resorts & Suites provides a home away from home for both savvy corporate travelers and leisure tourists alike. Oaks can be found in the UAE and Qatar, with the brand also soon to launch in Egypt.
Tivoli Hotels provide luxury accommodation coupled with Experience Teams to help travelers unlock the soul of each destination.