Lifestyle Hospitality Fund – Saudipedia

The Lifestyle Hospitality Fund is a fund centered on hospitality tasks primarily based on a contemporary idea that aligns with the objectives of the National Tourism Strategy, aiming to strengthen the place of the Kingdom of Saudi Arabia as a worldwide journey and tourism vacation spot. It was established on July 19, 2022, by way of a tripartite settlement between the Tourism Development Fund, ‘Ennismore’ hospitality firm, and al-Rajhi Capital Company, with a capital of SAR1.5 billion. The fund focuses on growing over twelve ‘way of life’ resorts throughout the Kingdom.

The Lifestyle Hospitality Fund goals to spend money on a group of contemporary resorts and resorts in chosen areas throughout the Kingdom. ‘Ennismore’ is accountable for working the hospitality tasks underneath its model portfolio, whereas al-Rajhi Capital manages the fund’s growth and attracts investments.

The Lifestyle Hospitality Fund goals to supply a various vary of leisure amenities and distinctive eating experiences for leisure tourism fans. It additionally seeks to advertise funding within the tourism locations outlined by the National Tourism Strategy, with expectations to contribute roughly two thousand resort rooms and create coaching alternatives for Saudi abilities, whereas enhancing the standard of funding alternatives and choices within the tourism sector.