The Tourism Development Fund and Melia Hotels International join forces

Saudi Arabia: The Tourism Development Fund (TDF) today announced the signing of a Memorandum of Understanding (MoU) with Melia Hotels International, one of the world’s leading hotel groups in the leisure segment.

The MoU was signed at TDF headquarters in Riyadh by Qusai Al-Fakhri, CEO of the Tourism Development Fund, and Gabriel Escarrer, CEO and Vice President of Melia Hotels International.

TDF and Melia Hotels International will bring new tourism concepts focusing on leisure, dining and entertainment to three key destinations under the National Tourism Strategy – Riyadh, Jeddah and Eastern Province. By enhancing the tourism and leisure offer within these territories dedicated to development, TDF contributes to the objectives of the National Tourism Strategy while improving the quality of life of residents and tourists.

Furthermore, the MoU is in line with the Fund’s focus on diversifying investments within the Kingdom by launching hotel projects that meet the highest international industry standards.

Qusai Al-Fakhri, CEO of TDFsaid, “The MoU with Melia Hotels International is an extension of our ongoing efforts to drive tourism development in the Kingdom in line with the goals of Saudi Vision 2030 and the National Tourism Strategy.”

“At TDF, we are always striving to ensure the growth and prosperity of the sector through MoUs and partnerships that will deliver exceptional experiences and services, thereby enhancing the Kingdom’s overall tourism value proposition. This latest collaboration with Melia Hotels International is a step towards transforming the Kingdom into a leading global tourist destination.”

Gabriel Escarrer, CEO and Vice President of Melia Hotels Internationalsaid, “Saudi Arabia’s natural and geographic diversity offers promising opportunities to develop high-quality hotel projects. In this regard, we are pleased to establish this Memorandum of Understanding with the Tourism Development Fund and look forward to playing a role in achieving the goals of Saudi Vision 2030. We are committed to developing these three projects according to the highest international standards and in accordance with the Kingdom’s distinct identity on the world stage.

Through the MoU, TDF and Melia Hotels International will develop high-quality tourist destinations, with a total project value of over SAR 1 billion (USD 266.5 million) for the three destinations.

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