The new agreement lays the foundation for positioning Oman as a sun and beach destination for European holidaymakers in line with ”Oman Vision 2040”, with TUI as a key partner. Oman will become a strategic shareholder in TUI Group with 1.4 percent through the OMRAN Group. TUI and the Omani government are jointly developing a first cluster of five new hotels in the Dhofar Governorate.
TUI Group and Oman's tourism development company, OMRAN Group, have signed a strategic agreement outlining a long-term strategic partnership. The collaboration aims to position Oman as a leading sun-and-sea destination, underscoring tourism's crucial role in Oman Vision 2040. At the heart of the agreement is the development and operation of an initial cluster of five new hotels in the Dhofar Governorate under leading TUI hotel brands, which are expected to welcome guests from around the globe as early as winter 2028. The agreement also includes plans for Oman to become a strategic shareholder in TUI Group with 1.4 percent through OMRAN Group.
– This agreement represents a crucial milestone in strengthening Oman's position on the global tourism map. In strategic partnership with OMRAN Group and TUI, we are committed to developing world-class tourism destinations and experiences that not only attract more visitors but also create high-quality employment opportunities and attract significant, value-adding investment. These initiatives support the Ministry's comprehensive tourism development plan across all governorates, enhancing competitiveness through exceptional service and diverse experiences that cater to the evolving preferences of international travellers, said His Excellency Salem Mohammed Al Mahruqi, Minister of Heritage and Tourism.
– With this partnership, we are taking a crucial step towards establishing Oman as a successful holiday destination. Just like in other regions of the world, TUI is developing vertically integrated destination clusters – something only TUI can do. Examples of this can be found in North, East and West Africa, Central America and the Caribbean. A cluster consists of hotels, experiences and cruises. In Oman too, we are working with our partners to develop a destination that stands out for its quality, sustainability and unique character, explains Sebastian Ebel, CEO of TUI Group.
– This milestone reflects OMRAN Group’s commitment to developing distinctive tourism destinations that elevate Oman’s global standing. By combining international expertise with our local vision, we are taking the first step towards unlocking the country’s full potential as a year-round destination, driving sustainable economic growth, and creating meaningful opportunities for our people and businesses in line with Oman Vision 2040, said His Excellency Azzan Qassim Al Busaidi, Undersecretary for Tourism, Ministry of Heritage and Tourism, and Chairman of OMRAN Group.
There is a great demand among holidaymakers for Oman – but so far, a limited supply. TUI's strong hotel brands – including ROBINSON, TUI Blue, RIU, Jaz, and The Mora – will also bring their existing customer base and loyal guests to Oman. We see this new destination cluster as a great opportunity. Today, we have over 450 hotels. TUI is the leading brand in the hotel industry for leisure travel, says Peter Krueger, Chief Strategy Officer and CEO of Holiday Experiences at TUI Group.
As part of the partnership, Oman is contributing land and capital to a joint venture. OMRAN Group and TUI will each hold 45 percent in this joint venture and another private investor will hold 10 percent. TUI is contributing its extensive expertise in hotel operations, travel distribution, airlines and local experiences.
At the same time, OMRAN Group will become a strategic shareholder in TUI Group with 1.4 percent, by acquiring newly issued TUI shares at a price of €9.50 per share with a lock-up period of 3 years in exchange for TUI's 45 percent stake in the joint venture company*. The new partnership is the next step for TUI Group in opening up new destinations thanks to its integrated business model with innovative projects and strong alliances – for the benefit of guests, partners, and shareholders.
The joint projects will be developed to the highest sustainability standards, integrating economic, social, cultural, and environmental priorities. These development projects are expected to generate significant direct and indirect employment opportunities, increase the participation of small and medium-sized enterprises, and consolidate Oman's position as a premier year-round tourist destination.
According to the press release.
