Makkah police arrest Yemeni and Egyptian suspects of fake Hajj campaign    400-800 year old giant coral colony discovered within AMAALA waters in the Red Sea    HR Ministry launches 'Ajeer Al-Hajj' service for seasonal work during Hajj 2025    Kafalah grants 1,900 loan guarantees worth over SR4.8 billion to SMEs during 1Q 2025    Council of Senior Scholars reaffirms performing Hajj without a permit is a sinful act    Syria thanks Saudi Arabia and Qatar for settling World Bank dues    King and Crown Prince offer condolence to Iranian president over the deadly port explosion    stc reports strong first-quarter 2025 results with 11% rise in net profit    Virgin Atlantic celebrates one month of nonstop service between London and Riyadh    Saudi Awwal Bank records SR2.1 billion net profit after zakat and income tax for 1Q25    Mahmoud Abbas appoints Hussein Al-Sheikh as PLO vice president in key succession move    Duran leads Al Nassr past Yokohama Marinos into AFC Champions League Elite semi-finals    Al Ahli cruise past Buriram into AFC Champions League Elite semi-finals    Saudi Arabia offers condolences to Iran following deadly Bandar Abbas port explosion    Saudi orchestra to perform at Sydney Opera House in May    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Average life expectancy in Saudi Arabia rises to78.8 years    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Tourism Development Fund Signs Exclusive Cooperation Agreement with Deutsche Hospitality
Published in Saudi Press Agency on 13 - 01 - 2022

The Minister of Tourism and Chairman of the Board of Directors of the Tourism Development Fund (TDF), Ahmed Al Khateeb, patronized today the signing of a memorandum of understanding between the Fund and (Deutsche Hospitality), the umbrella brand of the German hotel company "Steigenberger Hotels AG", aimed at developing and operating distinctive projects under the "Steigenberger Porsche Design" brand in the Kingdom of Saudi Arabia.
The MoU, which was signed by Qusai Al-Fakhri, CEO of the Tourism Development Fund, and Marcus Bernhardt, CEO of Deutsche Hospitality, includes the exclusive launch rights for the first Steigenberger Porsche Design Hotel in the Middle East.
Al-Fakhri said the cooperation with Deutsche Hospitality will be per the highest international standards in the hospitality and hotel sector, which will help to attract more companies to invest in high-end hotel projects in the Kingdom, adding that the fund aims through this cooperation to diversify tourism investments in the Kingdom through launching new and unique hotel projects in line with the national tourism strategy.
He reiterated the fund's keenness to cooperate with international hotel brands capable of contributing to enriching the tourist experience and activating diversity and tourism integration in Saudi Arabia.
For his part, Bernhardt said: "The launch of the first hotel with the "Steigenberger Porsche Design" brand in the Middle East to be based in Saudi Arabia reflects the Foundation's conviction in the importance of the Kingdom as a world-leading tourist destination," noting that this cooperation will result in new hotel projects that meet the evolving needs of the Saudi tourism sector and provide unique and innovative experiences within the luxury hotel category in the Kingdom.
The signing of the new agreement corresponds to the pivotal role that the fund plays in developing the tourism sector in the Kingdom by enabling private investors to participate in the development of this sector.
The fund provides support to small, medium, and large enterprises, starting from the planning stage to providing support from various government agencies concerned with the tourism sector. It also offers an array of solutions tailored to suit the needs of investors, including direct financing, bank guarantees, and co-financing with banks.


Clic here to read the story from its source.