The projects, envisaging a total investment of $266.5M, are to come up in Riyadh, Jeddah and the Eastern Province.
The Tourism Development Fund (TDF) of Saudi Arabia and leading Spanish hotel chain Melia Hotels International has entered into a pact to bring new tourism concepts focused on leisure, F&B and entertainment to three key destinations in the Kingdom.
Riyadh, Jeddah and the Eastern Province are the three destinations where the hotel projects are to come up.
TDF and Melia will develop high-quality tourism destinations, with a total project value of more than $266.5M for the three destinations.
TDF and Melia Hotels International have signed a memorandum of understanding (MoU) for the hotel projects at TDF’s headquarters in Riyadh. The MoU was signed by Qusai Al-Fakhri, CEO of the TDF, and Gabriel Escarrer, CEO and Vice Chairman of Melia Hotels International.
TDF’s pact with the Spanish hotel chain is part of Saudi Arabia’s national tourism strategy and aimed at enhancing tourism and entertainment offerings within these areas earmarked for development.
