TDF signs pact with Radisson to develop hotels in Saudi Arabia

Logo of The Tourism Development Fund (TDF) 

The Tourism Development Fund (TDF) inked a memorandum of understanding (MoU) with the Radisson Hotel Group to develop a number of hospitality and tourism projects in Saudi Arabia.

The first project under the MoU is expected to be announced in H2 2023, Saudi Press Agency reported.

The strategic partnership between the two parties will see the development of several properties including hotels, resorts, hotel apartments and other hospitality developments to enhance the tourism offering in the country.

These projects will be developed over the next several years in the targeted destinations under the Saudi National Tourism Strategy and in line with Saudi Vision 2030.

The developments will be under Radisson’s brands, to be agreed upon by the parties.

It is worth noting that the strategic partnership has already started between the two parties.

The MoU enables world-class companies to invest in, develop, and operate high-quality hospitality, lifestyle, entertainment, and other iconic projects within Saudi Arabia. These investments provide nationals, residents and visitors with more tourism and leisure options, enhancing the quality of life across the Kingdom.

Under this agreement with the TDF, Radisson plans to grow its portfolio by a further several hotels to a total portfolio of over 50 hotels in the Kingdom.