Minor Hotels has signed a Memorandum of Understanding (MoU) with Saudi Arabia’s Tourism Development Fund to jointly develop and operate hospitality and lifestyle projects in the kingdom.
These projects, Minor said, will include mountain resorts, wellness resorts and urban hotels, with the first project under this partnership expected to be announced in H2 this year.
Saudi Arabia’s Tourism Development Fund was established in 2020 and supports tourism investments in the kingdom, linking private sector investors with public funding opportunities.
Under the latest MoU, Minor Hotels will act as an operator and partner in its upcoming projects which will result in the development of “multiple hospitality projects” over the next couple of years.
Minor’s flagship brands including Anantara, Avani, Tivoli and Oaks will be established in locations around Saudi by way of the agreement.
The luxury brand Anantara will constitute at least one of the agreed projects. Anantara Hotels, Resorts and Spas is found extensively in the GCC and has more than ten properties in the UAE, Oman and Qatar.
Minor’s Avani Hotels and Resorts brand will debut in the kingdom with multiple properties to be developed as part of the partnership. In the GCC, Avani properties have already opened in the UAE and Oman, with another currently under development in Bahrain and scheduled to open in 2024.
Oaks Hotels, Resorts and Suites which provides residential-style accommodations, will also open in Saudi. It is already present in the UAE, Qatar and will soon launch in Egypt too. Tivoli Hotels and Resorts which already has three hotels in Qatar with new properties under development in Bahrain and Oman, will open in Saudi as well.
“The signing of this memorandum of understanding with Saudi’s Tourism Development Fund represents a significant step for Minor Hotels, enabling the group to offer a wide variety of products ranging from experiential luxury to serviced apartments, each creating a personalised product for a consumer niche,” said Dillip Rajakarier, group CEO of Minor International and CEO of Minor Hotels.
The specific locations of the upcoming projects will be aligned with Saudi’s National Tourism Strategy and will be announced soon. Globally, Minor Hotels has a portfolio of 530 hotels and resorts in 56 countries.