TUI Group signs strategic alliance agreement with Oman: First cluster of five new joint hotels planned, Oman Tourism Development Company OMRAN as new TUI Group long-term shareholder
Laying the groundwork to position Oman as a sun-and-beach destination for European holidaymakers in alignment with ‘Oman Vision 2040’ – with TUI as a key partner
The agreement outlines Oman becoming a 1.4 per cent strategic shareholder in the TUI Group through OMRAN Group
TUI and the Omani government jointly develop a first cluster of five new hotels in the Dhofar Governorate
At the heart of the agreement is the construction and operation of a first cluster of five new hotels in the Dhofar Governorate under leading TUI hotels brands, which are expected to welcome guests from all over the world 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.
His Excellency Salem Mohammed Al Mahruqi, Minister of Heritage and Tourism, stated: “This term sheet represents a pivotal milestone in reinforcing Oman’s position on the global tourism map. In strategic collaboration with OMRAN Group and TUI, 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 and draw impactful, value-driven investments. These initiatives support the Ministry’s comprehensive tourism development plan across all governorates, raising the level of competitiveness through exceptional services and diverse experiences that cater to the evolving preferences of international travellers.”
"With this partnership, we are taking a decisive step towards establishing Oman as a successful holiday destination. As 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 uniqueness," explains TUI Group CEO Sebastian Ebel.
His Excellency Azzan Qassim Al Busaidi, Undersecretary for Tourism, Ministry of Heritage and Tourism, and Chairman of OMRAN Group, said: “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 toward 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 alignment with Oman Vision 2040.”
“There is high demand among holidaymakers for Oman – but so far limited supply. TUI's strong hotel brands – including ROBINSON, TUI Blue, RIU, Jaz and The Mora –will also bring their captive customer base and loyal guests to Oman. We see this new destination cluster as a great opportunity,’ adds Peter Krueger, Chief Strategy Officer and CEO Holiday Experiences at TUI Group. “Today, we have over 450 hotels. TUI is the leading brand in the leisure hotel industry.”
As part of the partnership, Oman is contributing land and capital to a joint venture. OMRAN Group and TUI will hold 45% in this Joint Venture each, as a third partner, esteemed tourism executive and Travco Group International chairman Hamed El Chiaty will hold 10%. TUI is contributing its comprehensive expertise in hotel operations, travel distribution, airlines and local experiences.
As part of this strategic partnership, OMRAN Group will become a 1.4 per cent strategic shareholder in TUI Group, acquiring newly issued TUI shares at a price of €9.50 per share with a 3 year lock-up period in exchange for TUI’s 45% share in the Joint Venture*. The new partnership is the next step for TUI Group in opening up new travel destinations thanks to its integrated business model with innovative projects and strong alliances – to the benefit of guests, partners and shareholders.
The joint projects will be developed to the highest sustainability standards, which integrate economic, social, cultural, and environmental priorities. These developments are expected to generate significant direct and indirect employment opportunities, boost SME participation, and solidify Oman’s position as a premier year-round tourism destination.
*In detail: OMRAN Group will contribute 45% of the newly established joint venture company to TUI AG by way of a contribution in kind and will receive new TUI shares from the authorised capital 2025 in return. The Executive Board and Supervisory Board have passed the corresponding resolutions to issue 7.38 million new shares at a value of 9.50 € per share. After the share issue has been implemented, OMRAN Group will hold a stake of approximately 1.4 per cent in TUI.
About TUI Group
The TUI Group is a leading global tourism group. The group is headquartered in Germany. TUI shares are listed on the MDAX index of the Frankfurt Stock Exchange and on the regulated market of the Lower Saxony Stock Exchange in Hanover. The TUI Group offers its more than 34.7 million customers integrated services from a single source and covers the entire tourism value chain under one roof. The Group owns more than 460 hotels and resorts with premium brands such as RIU, TUI Blue, and Robinson, as well as 18 cruise ships, ranging from the luxury class MS Europa and MS Europa 2 and the HANSEATIC class expedition ships to the Mein Schiff fleet of TUI Cruises and cruise ships at Marella Cruises in the UK. The group also includes leading European tour operator brands and online marketing platforms, for example for hotel-only or flight-only offers, five airlines with 125 modern medium- and long-haul aircraft, and around 1,200 travel agencies. In addition to expanding its core business with hotels and cruises through successful joint ventures and activities in holiday destinations, TUI is increasingly focusing on the expansion of digital platforms. The group is transforming itself into a global tourism platform company.
Global responsibility for sustainable economic, environmental, and social action is at the heart of our corporate culture. The TUI Care Foundation, initiated by TUI, focuses on the positive effects of tourism, education and training, and the strengthening of environmental and social standards with projects in 30 countries. In this way, it supports the development of holiday destinations. The globally active TUI Care Foundation initiates projects that create new opportunities for the next generation.
About Oman Tourism Development Company (OMRAN Group)
Growth Through Tourism
OMRAN Group, the Sultanate of Oman's executive arm for tourism development, is committed to creating sustainable and authentic tourism projects, residential communities, and destinations. These initiatives are key in driving economic growth and supporting the diversification of Oman's economy. The Group’s multifaceted and collaborative approach enables it to work independently or as a catalyst, combining governmental strength with private sector innovation.
OMRAN Group’s partnerships span various stakeholders, including government bodies, private entities, local communities, SMEs, and more. This collaborative approach ensures its initiatives positively impact the environment, social fabric, and local economy while preserving Oman's rich cultural heritage and environmental values.
Inspired by Oman's stunning beauty, peaceful harmony, and gracious hospitality, OMRAN Group endeavours to share these treasures globally, thus enriching the country's vibrant tapestry of experiences and opportunities.
