To expand the potential for luxury resorts in tourism
industry
BERLIN, April 18, 2024 /PRNewswire/ -- Saudi Arabia's Tourism Development Fund (TDF)
and Karisma Hotels & Resorts International signed a Memorandum
of Understanding (MOU), exploring opportunities for developing
luxury resorts in Saudi Arabia.
The signing took place on 17th April at the International
Hospitality Investment Forum (IHIF) in Berlin.
This partnership represents a strategic alliance as it unlocks a
new potential for the tourism industry. The mutually beneficial
agreement outlines a roadmap to determining a methodology for
investing and providing financial and non-financial support to a
vibrant ecosystem of investors, clients and partners bringing
tourism and hospitality to unique areas.
"The Tourism Development Fund is unlocking a great potential
with Karisma Hotels & Resorts as we join forces to explore the
feasibility of funding and supportive innovative projects that will
significantly contribute to the growing of tourism sector"
said Qusai Al-Fakhri, CEO of TDF.
"We are proud to announce the company's significant entrance
into Saudi Arabia with multiple
hotel developments throughout the Kingdom, in collaboration with
our partners and local developers. Leveraging our expertise in
conceptualizing, developing, owning, and managing All-Inclusive and
European Plan (EP) experiential leisure resorts worldwide, Karisma
will introduce first-of-its-kind experiential leisure hotels in
partnership with worldwide acclaimed brands, bringing a new
offering of leisure vacations to the Kingdom." Esteban Velasquez, CEO of Karisma Hotels and
Resorts.
The Tourism Development Fund aims to connect the world with
opportunities in the Kingdom of Saudi
Arabia's high-growth tourism sector. TDF offers financial
and non-financial support to both international private investors
and home-grown small and medium-sized businesses, as well as
entrepreneurs.
Karisma Hotels and Resorts is renowned for its diverse portfolio
of unique brands, each offering distinct experiences tailored to
different preferences. From the family-friendly luxury
all-inclusive of Nickelodeon Hotels & Resorts, featuring
immersive experiences inspired by beloved Nickelodeon characters,
to the laid-back island vibes of Margaritaville Island Reserve ® by
Karisma and Margaritaville Beach Resort Ambergris Caye, BOR hotel
and Azul Beach Resorts by Karisma.
This signing between TDF and Karisma Resorts comes during an
important era as Saudi Arabia's
hospitality industry is booming as it represents significant
investment opportunities. This is happening as the Kingdom has
reached to its target, set out for 2030, of 100 million annual
visitors. This target was already achieved in 2023, which led to a
new target that aims to welcome 150 million visitors to
Saudi Arabia by 2030.
To Know More: tdf.gov.sa
Photo -
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