Riyadh - Sharikat Mubasher: Saudi Arabia’s Tourism Development Fund (TDF) signed a memorandum of understanding (MoU) with Karisma Hotels and Resorts International to enhance the tourism and hospitality sector in the Kingdom.

The agreement, signed during the International Hospitality Investment Forum, targets exploring opportunities for developing resorts across the Kingdom.

It outlines a roadmap to determining a methodology for investing and providing financial and non-financial support to investors, clients, and partners.

Qusai Al-Fakhri, CEO of TDF, stated that the fund will join efforts with Karisma Hotels to explore the feasibility of funding and supporting innovative projects that contribute to the growth of the tourism sector.

For his part, Esteban Velasquez, CEO of Karisma Hotels and Resorts, affirmed that the company will provide first-ever experiential leisure hotels in partnership with globally acclaimed brands, bringing a new offering of leisure vacations to the Kingdom.