Playa Hotels & Resorts offers all-inclusive in Saudi Arabia
Saudi Arabia’s Tourism Development Fund (TDF) has announced the signing of a new agreement that will bring Playa Hotels & Resorts and its all-inclusive resort offerings to the Middle Eastern country.
Under the deal, TDF will bring Playa’s innovative concept to Saudi shores, including the Persian Gulf and Red Sea, marking the luxury brand’s first launch outside of the Americas.
The TDF will also explore financing opportunities to support private sector investment, including foreign direct investment (FDI) represented by Playa’s participation in the projects. The agreement was reached as part of Saudi Arabia’s efforts to improve the tourism experience and become a top destination for travellers.
The agreement was signed at a ceremony attended by TDF Chairman and CEO Qusai Al-Fakhri and Playa Chairman Bruce D. Wardinski.
“We are delighted to partner with TDF to bring this unique concept to the Kingdom, which will benefit tourists through a world-class elevated offering,” Wardinski said. “At a time when the all-inclusive segment is growing rapidly, we have a strong track record of translating our extensive management and investment expertise into real value for our stakeholders, employees and the local communities in which we operate. .”
Playa Hotels & Resorts is the leading owner and operator of all-inclusive resorts in Mexico and the Caribbean. The company has achieved success through long-term partnerships with trusted global hotel brands such as Hyatt, Hilton and Wyndham.
“Through this partnership with Playa Hotels Resorts, we demonstrate our commitment to providing the Kingdom with the latest in world-class hospitality offerings,” Al-Fakhri said. “This agreement is the latest in a series of efforts to enable the private sector to develop high-potential tourism destinations in line with the National Tourism Strategy. We look forward to continuously innovating to provide tourists and investors with unprecedented opportunities like this.