Tourism Sector
The Social Security Corporation (SSC) is a major
investor in the tourism sector. Geographically, its portfolio covers most
parts of the Kingdom through direct and indirect investments.
SSIF directly invests more than JD 250 million in tourism sector. These
investments are managed through the National Tourism Development Company
(wholly owned company).
The National Company of Tourism Development (NTD):
NTD is overseeing a number of five star, four star, and three star
hotels that are owned to SSC: Crowne Plaza Amman (the hotel has 279 rooms,
restaurants, and other features), Crowne Plaza Petra (the hotel has 147 rooms,
and it is under renovation), Crowne Plaza Dead Sea (the
hotel has 420 rooms, restaurants, and other features), Holiday Inn Dead Sea (the hotel has 202 rooms, restaurants,
and other features) and Intercontinental Aqaba (the hotel
has 264 rooms, restaurants, and other features) which are operated by the Intercontinental Hotel Group.
NTD also oversees the Guest
House, the 4 stars hotel of 72 rooms is located at the entrance of Petra City.
The number of employees at the hotel is 100, most of them are from local
residents. The Guest House is managed by the International Group under the
commercial name of "Crowne Plaza" and it hits a high number of
reservations.
In addition, NTD is overseeing a number of tourist rest-houses in various governorates of
the Kingdom, which are managed by local investors.
These investments in the sector have
created more than 1300 permanent jobs.
The Fund is currently working through the NTD to renovate some rooms and suites
at the InterContinental/Aqaba. It also works to renovate the beach neighboring
the hotel which will be a destination for non-beach hotels residents. The Fund
also works on the renovation of Crowne Plaza Hotel – Petra.
To pay the local community back, these hotels participates in and sponsor many
CSR initiatives. One of these initiatives is the "Holiday Inn/Dead Sea
Academy". The academy provides an
opportunity for youth from surrounding villages to undergo training in food and
beverage services, food production and housekeeping
then to be hired by these hotels. The training program also include
IT skills, English language and soft skills.
Other investments:
The SSC owns stakes in a number of major tourism
projects through investment in leading companies in the sector such as Eagle
Hills (Saraya Aqaba), Zara Investment Holding, Al Dawliyah for Hotels &
Malls Plc (Sheraton Hotel Amman), Tourism Business Company (Marriott / Dead Sea
Hotel), and Jordan Projects For Tourism Development P.L.C (Tala Bay /Aqaba).
The Fund also co-finances through a syndicated loan the St. Regis Hotel, which was constructed in Amman by Eagle Hills Company.