Holiday giant TUI has announced a suspension of its deal with Oman’s OMRAN Group to establish a local hospitality joint venture in the Gulf state.
Last September, TUI signed an agreement with OMRAN – the Oman Government’s commercial tourism development vehicle – to partner on a large hospitality project in Oman, which would result in five new hotels, under TUI branding, and OMRAN taking a 1.4% shareholding in TUI.
However, OMRAN has informed TUI that the agreed project timeline of March 31, 2026 is no longer achievable.
Consequently, TUI has announced, the project implementation has been suspended.
However, TUI added that it will continue its close dialogue with OMRAN Group.
