Saudi hotel chain Boudl Hotels and Resorts confirm plans to invest in Jamaica
Following a visit to Jamaica in July by a large delegation of Saudi Arabian government and business interests, one major participating Saudi investor has now confirmed with Tourism Minister Edmund Bartlett that he is currently actively searching for a significant hotel investment on the island.
Saif Khalid Al Khelaiwi, executive vice president of Boudl Hotels and Resorts, noted that while they had always heard about Jamaica, they were stunned by its beauty and the natural charm of its people. He noted that the company is very interested in purchasing an existing hotel and or actively exploring other potential interests in the space. He was speaking with Minister Bartlett, who is leading a small high-level team of tourism officials at the World Travel Market in London on Monday.
Boudl Hotels and Resorts was established in 1959 under the name of Saleh Naser to Khelaiwi and Sons Co. The company opened several hotels throughout the Kingdom of Saudi Arabia (KSA) and Kuwait in a few years. Through its journey of success, the company created the Boudl brand which became the first brand in the hospitality field in KSA.
In July, a group of 65 Saudis were led on a one-day trip to Jamaica by Saudi Arabia’s deputy minister for Investors Outreach, Badr Al Badr. They flew to Jamaica for a briefing on and tour of investment opportunities across Kingston and Montego Bay.
Prime Minister Andrew Holness; Industry, Commerce and Investment Minister Aubyn Hill; and Bartlett led government engagements with the delegation. Prime Minister Holness, in remarks to the delegation in July, noted that the fact that the team flew halfway around the world, was a “serious sign” of their interest in the country.
In his remarks at the time, Saudi deputy minister Badr said it was “especially important” for the group, “because the Caribbean has become a priority zone for investments and business partnerships for Saudi Arabia.”
He emphasised that Jamaica, as the third largest economy in the region, “is a key partner, a key player and a key leader” in this regard.
Source: Jamaica Observer