## Dusit International Partners with Saudi Arabia’s Tourism Development Fund to Expand Luxury Hospitality
In a strategic move to bolster Saudi Arabia’s burgeoning tourism industry, Dusit International, a leading Thai hotel and property development company, has entered into a Memorandum of Understanding (MoU) with the nation’s Tourism Development Fund (TDF). This collaboration signifies a commitment to fostering new hospitality ventures that will enhance the Kingdom’s tourism infrastructure and cater to the growing demand for luxury experiences.
The MoU, signed at the 2024 World Travel Market in London, underscores the dynamic investment prospects within Saudi Arabia’s tourism sector. Dusit’s commitment to sustainable growth in key international markets aligns perfectly with TDF’s goal of establishing strategic partnerships to expand the Kingdom’s luxury hotel and resort offerings.
Saudi Arabia’s Tourism Surge:
The Kingdom has witnessed a remarkable surge in tourism in recent times. In the first half of 2024, inbound visitor spending surged by an impressive 8.2% compared to the same period in 2023, reaching approximately SAR 92.6 billion. This robust growth has propelled Saudi Arabia to a travel account surplus of approximately SAR 41.6 billion, highlighting its exceptional progress in the tourism sector. Furthermore, Saudi Arabia has taken the lead among G20 nations in both international tourist arrivals and growth in tourism revenue during the first seven months of 2024. Compared to 2019, international arrivals have soared by 73%, while tourism receipts have climbed by an astounding 207%, according to UN Tourism data.
A Shared Vision for Growth:
In alignment with Saudi Arabia’s National Tourism Strategy and the ambitious Vision 2030 agenda, the Tourism Development Fund (TDF) is dedicated to expanding the Kingdom’s tourism offerings by supporting impactful projects grounded in sustainable practices and top-tier infrastructure. Dusit, with its rich 75-year legacy in hospitality and a diverse portfolio of brands, ranging from lifestyle-focused hotels to luxury villa rentals, is well-positioned to contribute significantly to this vision.
Through this partnership, Dusit and TDF will collaborate to identify prime hotel development opportunities that leverage Dusit’s expertise and create exceptional guest experiences. The collaboration aims to generate long-lasting benefits for hotel owners, investors, and the wider community.
Dusit’s Global Presence and Commitment to Saudi Arabia:
“Dusit International is deeply honored to sign this MoU,” remarked Ms Suphajee Suthumpun, Group CEO of 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 a portfolio of 301 properties spanning 18 countries, including eight hotels in the Middle East, Dusit International boasts distinguished brands like Dusit Thani (luxury), dusitD2 (lifestyle/midscale), Dusit Princess (midscale), Dusit Suites (upscale/extended stay), and ASAI Hotels (affordable lifestyle). The company has recently expanded its offerings with the introduction of Devarana – Dusit Retreats (luxury wellness) and Dusit Collection (exclusive luxury).
Beyond hospitality, Dusit actively supports the industry through its educational division, Dusit Hospitality Education. This division encompasses institutions like Dusit Thani College, Le Cordon Bleu Dusit Culinary School, and The Food School, all dedicated to nurturing the next generation of hospitality professionals. Dusit’s capabilities are further strengthened by synergies within Dusit Foods, Dusit Estate (property development), and its Hospitality-Related Services division.
This strategic partnership between Dusit International and the Tourism Development Fund signals a significant commitment to expanding Saudi Arabia’s luxury hospitality sector and solidifying its position as a leading tourism destination in the region.
