Saudi Arabia has invested US$400 million in Habitas, a luxury hotel brand that focuses on sustainability and local community empowerment. The investment will help Habitas expand its presence in the kingdom and attract more tourists.
The investment comes from the Saudi Tourism Development Fund (TDF), which, according to Bloomberg, has created a “Habitas Fund”.
Co-founded by entrepreneur Oliver Ripley along with his partners Kfir Levy and Eduardo Castillo in 2016, Habitas is a global hospitality group that draws “conscious travellers seeking new experiences built around human connection, sustainability and local community empowerment”.
The brand has grown rapidly since 2021, opening new hotels in Mexico, Namibia and Saudi Arabia. It is reported that Habitas aims to open up to six new properties in the kingdom at still-to-be-confirmed locations.
Habitas AlUla opened in November 2021, as a result of a new partnership between Habitas and The Royal Commission for AlUla (RCU).
Saudi Arabia’s TDF was established in June 2020 to support the industry. With $4 billion in capital, TDF seeks to enable local and international investors to access high-potential tourism investments across key destinations in the Kingdom.
(Photo – top of page – Copyright HABITAS 2022 – Habitas Al-Ula resort)
