Dusit International, one of Thailand's leading hotel and property development companies, has signed a memorandum of understanding (MoU) with Tourism Development Fund (TDF), the national enabler of the tourism sector in Saudi Arabia, to establish a preliminary framework for developing hospitality projects that will enhance the country's tourism infrastructure. 

 

Signed at the World Travel Market 2024 in London, the MoU reflects the vibrant tourism investment opportunities in Saudi Arabia. 

Pictured (from right): Mohammad Al-Romaizan, Chief of Staff and Corporate Governance Officer, TDF; Her Royal Highness Princess Nouf Alsaud, Acting Director, Decision Support & International Partnership, TDF; Qusai Al-Fakhri, Chief Executive Officer, TDF; Jean-Pierre Trabut, General Manager, Dusit Thani Abu Dhabi; and Naif Al-Madi, Chief Business Officer, TDF.

 

The MoU signifies Dusit's dedication to sustainable international expansion in key global markets and highlights TDF's commitment to fostering international partnerships to develop luxury hotels and resorts across the kingdom, said a statement. 

 

Saudi Arabia experienced 8.2% growth in inbound visitor spending within its travel account during the first half of 2024 compared to the same period in 2023, reaching approximately SAR92.6 billion. The kingdom also recorded a surplus in the travel account of around SAR41.6 billion. This surge in visitor spending highlights Saudi Arabia's significant achievements in tourism, as it led all G20 countries in international tourist arrivals and in the growth rate of international tourism receipts during the first seven months of 2024. Compared to the same period in 2019, international tourist arrivals increased by 73%, and international tourism receipts rose by 207%, based on data from UN Tourism, the statement said. 

 

Aligned with Saudi Arabia's National Tourism Strategy and the Saudi Vision 2030 framework, TDF aims to diversify the kingdom's tourism sector by supporting high-impact projects focused on sustainable development and world-class infrastructure. Under the MoU, Dusit will collaborate with TDF to identify prime hotel development opportunities that leverage Dusit's 75 years of hospitality expertise and diverse brand portfolio—ranging from lifestyle hotels to exclusive villa rentals. Together, they aim to deliver unique guest experiences and enduring value for hotel owners, investors, and the broader community. 

 

"Dusit International is deeply honoured to sign this MoU," said Suphajee Suthumpun, Group CEO, Dusit International. "This marks a significant milestone for us as we seek to bring our unique brand of Thai-inspired gracious hospitality to one of the world's most dynamic tourism landscapes. Saudi Arabia is a key focus for our growth, and partnering with TDF provides invaluable opportunities to connect with high-potential investments across the Kingdom. We look forward to contributing to Saudi Arabia's National Tourism Strategy and delivering hotel experiences that bring enduring value to all stakeholders." 

 

With 301 properties in 18 countries, including eight hotels in the Middle East, Dusit's portfolio features established brands such as Dusit Thani (luxury), dusitD2 (lifestyle/midscale), Dusit Princess (midscale), Dusit Suites (upscale/extended stay), and ASAI Hotels (affordable lifestyle). Dusit recently added Devarana – Dusit Retreats (luxury wellness) and Dusit Collection (bespoke luxury) to its expanding brand lineup. 

 

In addition to hospitality, Dusit contributes to the industry through its educational arm, Dusit Hospitality Education, which includes Dusit Thani College, Le Cordon Bleu Dusit Culinary School, and The Food School, training future leaders in hospitality. Dusit's expertise is further enhanced through its group-wide synergies with Dusit Foods, Dusit Estate (property development), and Hospitality-Related Services. - TradeArabia News Service