Thursday, April 18, 2024
The Tourism Development Fund (TDF) of Saudi Arabia and Karisma Hotels & Resorts International have inked a Memorandum of Understanding (MOU), aimed at delving into prospects for crafting upscale resorts within Saudi Arabia. This significant agreement was formalized on April 17th during the International Hospitality Investment Forum (IHIF) held in Berlin.
This collaboration signifies a pivotal partnership, poised to unlock fresh opportunities within the tourism sector. The mutually advantageous pact delineates a strategic roadmap for investment methodologies and offers both financial and non-financial backing. It aims to cultivate a dynamic network of investors, clientele, and partners dedicated to enriching tourism and hospitality experiences across distinctive locales.
“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 (TDF) strives to forge international ties with the growing opportunities present within Saudi Arabia’s flourishing tourism industry. TDF extends both financial and non-financial assistance to international private investors, local small and medium-sized enterprises (SMEs), and aspiring entrepreneurs.
Karisma Hotels and Resorts boasts a distinguished array of brands, each offering bespoke experiences catering to diverse preferences. Ranging from the family-oriented luxury all-inclusive offerings of Nickelodeon Hotels & Resorts, featuring immersive encounters inspired by cherished Nickelodeon characters, to the relaxed island ambiance of Margaritaville Island Reserve® by Karisma and Margaritaville Beach Resort Ambergris Caye, alongside BOR Hotel and Azul Beach Resorts by Karisma.
The collaboration between TDF and Karisma Resorts marks a significant milestone amidst Saudi Arabia’s burgeoning hospitality landscape, brimming with promising investment prospects. This development aligns with the Kingdom’s ambitious tourism goals, having surpassed its 2030 target of hosting 100 million annual visitors as early as 2023. Subsequently, a new objective has been set to welcome 150 million visitors to Saudi Arabia by 2030.
Wednesday, May 1, 2024
Wednesday, May 1, 2024
