Source: H World International
Steigenberger Porsche Design Hotels

In the presence of His Excellency Ahmed Al-Khateeb, Minister of Tourism and Chairman of the Board of Directors of the Tourism Development Fund. The Tourism Development Fund (TDF) signed a Memorandum of Understanding (MoU) with Deutsche Hospitality, the umbrella brand of the German hotel company Steigenberger Hotels AG, to develop and operate Steigenberger Porsche Design Hotels projects in Saudi Arabia. The agreement includes the right to exclusively launch the first Steigenberger Porsche Design Hotels project in the Middle East. The MoU was signed by Qusai Al-Fakhri, CEO of TDF and Marcus Bernhardt, CEO of Deutsche Hospitality.

The luxurious Steigenberger Porsche Design Hotels will feature the distinctive Porsche lifestyle design coupled with Steigenberger hospitality and service quality, offering an innovative hotel concept within the lifestyle segment. Offering a minimum of 150 rooms, suites, and penthouses the hotels will include a restaurant and lounge concept, exclusive meet and greet areas, and world-class health and beauty facilities, which includes a gym and wellness area. Guests will also benefit from an individualized journey at every touchpoint, driven by the hotel’s focus on hyper personalization, innovation, and functional approach.

Qusai Al-Fakhri, CEO of TDF, said: “We are pleased to announce the signing of this MoU with Deutsche Hospitality, a company that blends world-class hospitality with elevated standards to attract entities to invest in, develop, and operate high-quality, iconic hotel projects in Saudi Arabia. Through this collaboration – which will result in first of its kind hospitality offerings – we continue to enhance the Kingdom’s tourism offering under the National Tourism Strategy.”

Marcus Bernhardt, CEO of Deutsche Hospitality, said: “We are pleased to collaborate with TDF to launch new hotel projects in Saudi Arabia, including the first Steigenberger Porsche Design Hotel in the Middle East. The project will cater to the sophisticated needs of the Saudi market, creating a unique and innovative experience within the Kingdom’s luxury lifestyle hotel segment that is sure to offer an incomparable guest experience. A Steigenberger Porsche Design Hotel in Saudi Arabia reflects our commitment to the region and our support for the Kingdom as a leading global tourist destination.”

TDF plays a pivotal role in advancing tourism development in Saudi Arabia by enabling private investors to participate in the sector. It provides support to SMEs and large institutions alike, ranging from planning to providing support from various tourism-related government agencies. The Fund offers a variety of tailored solutions that suit the needs of investors, including direct financing, bank guarantees, and co-financing with banks.

About Tourism Development Fund

The Tourism Development Fund (TDF) was established in 2020 with a capital of USD 4 billion to drive tourism growth in Saudi Arabia. TDF enables local and international investors looking to benefit from the sector’s high potential by providing viable funding solutions and leveraging its wide network of partners including government entities, public and private lenders as well as operators and service providers…all deployed to bring investments to life. Positioned firmly at the heart of Saudi’s tourism ecosystem, TDF is well placed to offer guidance and funding options to SMEs, and tailored investment solutions to qualified investors. The Fund’s vision is to contribute towards achieving the National Tourism Strategy’s objectives by unlocking opportunities in the tourism value chain for private sector investors, while focusing on long-term sustainability.

About H World International

H World International combines the strengths of seasoned brands with international hotel expertise. The company is represented in Europe, the Middle East, India and Africa, as well as in the Asia-Pacific region, and is advancing expansion with a balanced blend of lease, management, and franchise hotels. Nine unique brands are united under the umbrella of H Rewards – the consumer-focused and simple booking platform and unique loyalty program with more than 218 million members worldwide. H World International is part of H World, one of the world's largest and fastest growing hotel groups. Further information is available at int.hworld.com.

Steigenberger Icons are extraordinary hotels that combine unique historical value with modern concepts. Steigenberger Porsche Design Hotels combine the distinctive Porsche Design Lifestyle with hospitality and service. At Steigenberger Hotels & Resorts, guests enjoy an unforgettable and top-class hotel experience. Jaz in the City is a lifestyle brand concentrating on music: always in sync, lively, and unique. House of Beats supports local heroes and is an innovative brand with an uncompromising community approach. IntercityHotel is synonymous with flexible mobility and central locations and offers high standards for design and comfort. Maxx stands for what is most important in the mid-scale range of the market. Zleep Hotels offer Danish design, quality, and Scandinavian simplicity at an affordable price. Ji Hotel serves guests with a reserved eastern aesthetic, well-designed technology, and plenty of room for individuality. Book your stay at hrewards.com.

Sven Hirschler
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H World International