TUI Group has signed a strategic agreement with the Sultanate of Oman’s Tourism Development Company OMRAN Group.
The long-term partnership aims to position Oman as a leading sun-and-beach destination.
At the heart of the agreement is the construction and operation of a first cluster of five new hotels in the Dhofar Governorate under TUI hotels brands.
The first could open as early as winter 2028.
The agreement also includes plans for Oman to become a 1.4 per cent strategic shareholder in TUI Group through the OMRAN Group.
Salem Mohammed Al Mahruqi, Minister of Heritage and Tourism, said: “This represents a pivotal milestone in reinforcing Oman’s position on the global tourism map.”
“We are committed to developing world-class tourism destinations and experiences that not only attract a greater number of visitors, but also create high-quality employment opportunities.”
“With this partnership, we are taking a decisive step towards establishing Oman as a successful holiday destination.” added TUI Group CEO Sebastian Ebel.
As part of the partnership, Oman is contributing land and capital to a joint venture.
OMRAN Group and TUI will hold 45% in JV each and another private investor will hold 10%.
TUI will contribute expertise in hotel operations, travel distribution, airlines and local experiences.
OMRAN Group will become a 1.4 per cent strategic shareholder in TUI Group, acquiring newly issued TUI shares with a three-year lock-up period in exchange for TUI’s 45% share in the Joint Venture.
The projects are expected to generate significant direct and indirect employment opportunities.
