The Tourise summit drew its curtains on Thursday with a whopping USD 113 bn in portfolio investments, Tourism Minister Ahmed Al Khateeb posted on X yesterday. The three day event attracted over 9.9k participants from more than 100 countries, forging more than 80 agreements and MoUs across luxury retail, next-gen hotels, integrated experience-led developments, wellness, lifestyle offerings, talent development, and AI-powered platforms. The next Tourise Summit will be held in March 2027, Al Khateeb added.

The summit cites big names that unveiled investments at the summit, including BWH Hotels, FTG Development, GOCO Hospitality, Louvre Hotel Group, Delonix Group, BeOnd, Radisson Hotels, Dar Al Arkan, Al Fozan Holding Company, Al Othaim Holding, Cenomi, and more, according to a press release. We expect more and more announcements to keep trickling throughout the upcoming weeks.

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WHAT WE KNOW SO FAR-

#1- Tourism Development Fund (TDF) forged 14 new partnerships valued at over SAR 10 bn, Al Arabiya reported. Integrated hospitality projects totaling 1.2k keys were unveiled, including Jareed Asir, Land of Fog, Al Hadaba Park, Westin Resort, and The House Residences, as well as future developments in Haifa and Jabal Abdullah under the Mantis hospitality brand. The Fund also introduced the Sarina glamping project in Al Baha.

The TDF also inked three MoUs to explore potential investments — one with Meliá Hotels International to develop at least 1k rooms over the next three years and introduce new brands including ZEL, another with ina Hospitality to bring Relais & Châteaux brand to Saudi Arabia, and a third with Italian company Arsenale to develop the Dream of the Desert luxury train project covering 1.3 km across five routes.

#2- Shaza Hotels and Resorts inked four MoUs to establish Shaza Riyadh Stables Resort, Mysk Residences in Riyadh, and Mysk Al Haramain Hotels 3 and 4 in Makkah, it said in a press release on Thursday. Shaza also announced a USD 950 mn pipeline for international projects in key destinations like the Maldives, Turkey, Kuwait, Indonesia, Iraq, the US, Kenya, and Libya.

  • The Shaza Riyadh Stables Resort, signed with FSM Hospitality, will be a 63.5k sqm premium leisure destination in Al Jubailah, Riyadh, themed around “equestrian living.” It will feature 31 bungalow units, a full equestrian club with 100 horse boxes and three professional arenas, scenic tracks, a spa, gyms, paddle courts, soccer fields, a water park, and multiple restaurants.
  • The Mysk Residences in Riyadh, signed with Adante Realty LLC Oman, is a 58-key boutique aparthotel on King Salman Road. Located 10 minutes from the airport and 15 minutes from Qiddiya and Murabba developments, it will offer one- to three-bedroom apartments and penthouses, a gym, a pool, and a 24-hour café.
  • The Mysk Al Haramain Hotels 3 and 4 in Makkah, signed with Al Rajhi Investments, are upscale hotels with 264 and 182 keys, respectively. Situated just 10 minutes from the Holy Mosque, they are designed for Umrah pilgrims and will feature dining options, dedicated prayer rooms, and shuttle services to the Holy Mosque.

#3- Midad Real Estate signed a SAR 7 bn agreement with PIF’s Jeddah Central Development and Kerzner International Holdings for the debut of the latter’s brands Atlantis and One&Only in the Kingdom, state news agency SPA reported.

#4- Events Investment Fund unveiled its Riyadh Shooting Range and Entertainment Complex with SAR 491 mn investments, state news agency SPA reported on Wednesday. Meeting the International Shooting Sport Federation standards, the 457k sqm facility in Qiddiya City will host national and international shooting events, including World Cups, Grand Prix, Asian Games, and the Olympics.

#5- Royal Commission for Jubail and Yanbu (RCJY) launched Jaydana in Jazan along the Red Sea, state news agency SPA reported on Friday. The project is expected to secure SAR 2.9 bn investments during the initial phases. The first phase of the 3-km-sqm Jaydana is expected to conclude by 2032, with developments continuing through 2040, Acting General Manager of Investment Development Division at RCJY, Nawaf Al Wadie‏ told Asharq Business (watch, runtime: 05:12).

#6- PIF-owned Rua Al Madinah Holding sealed two agreements worth USD 165 mn, it said in a press release. The first agreement will see IHG Hotels and Resorts develop and operate Crowne Plaza Rua Al Madinah and Holiday Inn Rua Al Madinah within the Rua Al Madinah Project with about 2.3k keys and 1.3k job vacancies. Meanwhile, the second agreement with PIF’s Adeera Hospitality Management will see it manage and operate 250 premium hotel rooms and 120 residential units within the same project.

#7- Egyptian developer Tabarak Holding partnered with Minor Hotels for the latter to operate Oaks Residences Riyadh, Tabarak Holding CEO Aly El Shorbany told EnterpriseAM. Under the agreement, A’Aly Al Riyadh will be rebranded as Oaks Residence Riyadh, El Shorbany said, adding that some 70–80 units are ready, with the first phase set to be concluded by early next year. The project is valued at around SAR 170–180 mn so far, El Shorbany added.

The details: Located near the Diplomatic Quarter in Riyadh, Oaks Residence comprises 146 upscale units — spanning hotel rooms, studios, apartments, a restaurant, a swimming pool, and a fitness center, according to a press release published on Thursday.

The Kingdom’s hospitality sector is “booming” and is expected to witness a breakthrough thanks to upcoming global events such as the 2034 World Cup and the 2029 Asian Winter Games, along with the number of conferences it hosts, El Shorbany noted.

ALSO SIGNED AT THE SUMMIT- Amsa Hospitality Company along with Hail Zone allocated SAR 35 mn to establish 115 hotel rooms within the Hail region, it said on LinkedIn on Thursday. Meanwhile, Erth Real Estate teamed up with IHG Group to launch Erth Towers under the Vignette Collection brand, introducing 776 hotel units within Masar Makkah, it posted on LinkedIn.

ICYMI- Our coverage of the opening day of the summit saw PIF-owned Al Balad Development investing USD 3.6 bn to build and revamp assets in Historic Jeddah, Red Sea Global inaugurating Amaala Triple Bay, US-based hotel management firm Valor Hospitality Partners signing an agreement to operate 3k keys, and travel tech Amadeus setting up its regional shop in Riyadh.

INITIATIVES LAUNCHED AT TOURISE-

  • The Tourise Destination Initiative brings together global officials and decision makers to discuss tourism innovation, according to a press release. Asir Governor Prince Turki bin Talal bin Abdulaziz Al Saud will chair the event along with Mayor of Venice Luigi Brugnaro.
  • The Visa by Profile initiative qualifies Visa cardholders for securing an electronic tourism visa using their card passport information within minutes, Minister Ahmed Al Khateeb posted on X.
  • The Tourism Ministry and the World Economic Forum launched the Beyond Tourisminitiative, which aims to reshape the sector globally via collaborative efforts on the basis of sustainability, inclusion, and resilience.
  • The second day saw the launch of the Agentic Tourism Initiative to introduce a digital framework for applying AI in the tourism sector.
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