Playa enters Saudi market

Thursday, March 17, 2022

The Tourism Development Fund or TDF of Saudi Arabia on Tuesday has signed a contract with Playa Hotels & Resorts with an aim to introduce its all-inclusive resort offering to Saudi coasts, featuring the Arabian Gulf and the Red Sea.
Also, TDF will look into other funding opportunities that would help private sector investments, like foreign direct investment (FDI) represented by Playa’s equity in the projects. This will be the first launch for the Playa’s outside the Americas.

To quote Qusai Al Fakhri, CEO of TDF, “This agreement is the most recent 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 bring tourists and investors unparalleled opportunities like this.”

To quote Bruce D. Wardinski, chairman and CEO of Playa Hotels & Resorts, said the concept “will benefit tourists through a world-class, elevated offering”.

“At a time when the all-inclusive segment is rapidly growing, 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 are located. We look forward to serving investors and tourists alike in the Kingdom.”

Playa operates all-inclusive resorts in Mexico and all over the Caribbean. It has long-term partnerships with brands like Hyatt, Hilton, and Wyndham.

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