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A Member of Saudi Royal Family Plans to Invest $300 Million in Turkey Hotels

The head of the Arab Tourism Organization Bander bin Fahd al-Fehaid, who is also a member of the Saudi Arabia’s royal family, has revealed his plans concerning the investment into hotel industry of Turkey. The investment will be made to My Tuana hotels in Turkey that belong to al-Fehaid. He has already purchased 4 hotels across the country and 7 more will be probably added in the nearest future. It is expected that the total number of My Tuana hotels will be increased to 20 by the end of this year, and by 2017 it may already include as many as 50 accommodations throughout the country.

All hotels will belong to the five-star category. The main distinctive feature of the hotels is in special procedures and wellness service for guests. The hotels’ spa centers use Himalayan salt and thermal waters. All hotels will be equipped with salt rooms, salt water therapy, and various salt treatments. The main target auditory of these hotels is Arab customers.

The Arab businessman has become very interested in Turkey after the events of the Arab Spring, when political unrest caused a $10 billion loss in revenues of tourist companies. It is also reported that al-Fehaid is in the process of negotiations with other Arab investors. The negotiations concern the opening of a grand thermal resort in Bursa. The cost of the large complex may reach $2 billion, and it may attract up to a half of a million of tourists per year. Extra details may be known after ATCEX 2012 – the first Turkish-Arab Travel and Tourism conference that takes place this April. The conference will be visited by around 400 Arab investors.

19.03.2012

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