Tourism Development Fund, Deutsche Hospitality Co-sign MoU

Tourism Development Fund signed today a memorandum of understanding with Deutsche Hospitality, the brand that owns the German hotel group Steigenberger Hotels, which will result in the development and operation of distinctive projects under the “Steigenberger Porsche Design” brand, in the Kingdom, under the patronage of the Minister of Tourism and Chairman of the Board of Directors of the Fund Ahmed Al-Khatib.

The agreement included the exclusive launch rights for the first Steigenberger Porsche Design Hotel, in the Middle East, where the Memorandum of Understanding was signed by Qusai Al-Fakhri, CEO of the Tourism Development Fund and Markus Bernhard, CEO of Deutsche Hospitality.

Expressing pleasure at this cooperation with Deutsche Hospitality, which operates according to the highest international standards, in the hospitality and hotel sector, Al-Fakhri pointed out that the company would help in attracting more companies to invest in high-end hotel projects, in the Kingdom, noting that the fund aims through this cooperation to diversify tourism investments, in the Kingdom, by launching new and unique hotel projects, in line with the national tourism strategy.