Saudi Arabia’s Tourism Development Fund (TDF) has signed an agreement with Deutsche Hospitality, the umbrella brand of the German hotel company Steigenberger Hotels, to develop and operate hotels in the kingdom.
The agreement – which was signed in the presence of Ahmed Al-Khateeb, Minister of Tourism and chairman of the TDF – includes the right to exclusively launch the first Steigenberger Porsche Design Hotels in the Middle East.
The agreement was signed by Qusai Al-Fakhri, CEO of TDF and Marcus Bernhardt, CEO of Deutsche Hospitality.
The luxury Steigenberger Porsche Design Hotels will feature the Porsche lifestyle design coupled with Steigenberger hospitality and service quality, a statement said.
With a minimum of 150 rooms, suites and penthouses, the hotels will include a restaurant and lounge concept, exclusive meet and greet areas, and world-class health and beauty facilities, with a gym and wellness area.
Al-Fakhri said: “We are pleased to announce the signing of this MoU with Deutsche Hospitality, a company that blends world-class hospitality with elevated standards to attract entities to invest in, develop, and operate high-quality, iconic hotel projects in Saudi Arabia.
“Through this collaboration – which will result in first of its kind hospitality offerings – we continue to enhance the Kingdom’s tourism offering under the National Tourism Strategy.”
Bernhardt added: “We are pleased to collaborate with TDF to launch new hotel projects in Saudi Arabia, including the first Steigenberger Porsche Design Hotel in the Middle East. The project will cater to the sophisticated needs of the Saudi market, creating a unique and innovative experience within the Kingdom’s luxury lifestyle hotel segment that is sure to offer an incomparable guest experience.”
TDF plays a pivotal role in advancing tourism development in Saudi Arabia by enabling private investors to participate in the sector.
It also provides support to SMEs and large institutions alike, ranging from planning to providing support from various tourism-related government agencies.
The TDF was established in 2020 with a capital of $4 billion to drive tourism growth in Saudi Arabia.
In conjunction with its shareholder Huazhu, Deutsche Hospitality said it aims to become one of Europe’s leading hotel companies.
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