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Saudi government-owned Tourism Development Fund (TDF) has signed a memorandum of understanding (MoU) with the Radisson Hotel Group to develop hospitality and tourism projects across Saudi Arabia.
The MoU will see the development of several properties focused on urban hotels, resorts and serviced apartments, the Fund said in a statement.
The first project is expected to be announced in the second half of 2023.
Through the partnership, Radisson Hotel Group plans to expand its portfolio to over 50 hotels in Saudi Arabia. It already has 26 hotels and resorts, with more than 20 properties under development in the Kingdom.
(Writing by D Madhura; Editing by Anoop Menon)
