Red Sea Global Adds Three Globally Renowned Hotel Brands to its Luxury Portfolio
- Three new international hotel brands become the latest to sign management agreements for first phase of development at The Red Sea Project
- Construction on track to welcome first guests in early 2023
| "Riyadh, (25 May 2022): Red Sea Global (formerly known as TRSDC), the developer behind the world’s most ambitious regenerative tourism projects, The Red Sea and Amaala, has confirmed today at the Future Hospitality Summit in Riyadh, that three new hotel management agreements have been signed with international hotel brands to operate resorts in the first phase of development at The Red Sea. These include Ritz Carlton Reserve and Miraval hotels – the first to operate in the Middle East – and Rosewood, a global luxury hospitality company. " |
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This announcement demonstrates industry confidence in The Red Sea destination, with a total of 12 hospitality brands now confirmed, and signifies a growing appetite from global leaders to participate in the expansion of the Saudi Tourism market. With two brands now entering the region for the first time, I believe the future of tourism in the Kingdom is bright,
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"“Together with our collection of globally recognized and respected partners, we are excited to play our part in opening up this unique and undiscovered part of the world, setting new benchmarks for sustainable development along the way.” "
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| "Ritz Carlton Reserve is situated at the destination’s idyllic Ummahat Islands, whilst Miraval and Rosewood are located on Shura Island, the main hub for the resort. The new collection of hospitality brands collectively feature nearly 500 hotel keys of the total 3,000 planned for Phase One. The luxury hotel companies join a stellar line-up of globally renowned brands that have already confirmed they will operate at The Red Sea, including: EDITION Hotels and St Regis Hotels & Resorts, part of Marriott International; Fairmont Hotel & Resorts, Raffles Hotels & Resorts and SLS Hotels & Residences, part of global hospitality group Accor; Grand Hyatt, part of Hyatt Hotels Corporation; Intercontinental Hotels & Resorts and Six Senses, part of IHG Hotels & Resorts; and Jumeirah Hotels & Resorts. " |
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| "“Our impressive roster of hospitality brands are united in their commitment to help us create a one-of-a-kind world-class luxury destination. They have all agreed to adhere to our stringent measures when it comes to embedding sustainability, luxury and Saudi heritage in their designs and share best practices in terms of the environment once operational. These additional hotel management agreements mark the significant progress we are making as we work towards welcoming visitors from around the world”, said Jay Rosen, Chief Financial Officer at RSG. The Red Sea has already passed significant milestones and work is on track to welcome the first guests in less than a year, when the first hotels will open. Phase one, which includes 16 hotels in total, will complete by the end of 2023. Upon completion in 2030, The Red Sea Project will comprise 50 resorts, offering up to 8,000 hotel rooms and more than 1,000 residential properties across 22 islands and six inland sites. The destination will also include an international airport, luxury marinas, golf courses, entertainment, and leisure facilities." |
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About Red Sea Global
Red Sea Global (RSG - www.redseaglobal.com) is a closed joint-stock company wholly owned by the Public Investment Fund (PIF) ofSaudi Arabia.
RSG is a global multi-project developer, seeking to lead the world towards a more sustainable future, showing how responsible and regenerative development can uplift communities, drive economies, and enhance the environment. The protection of natural capital is central to all development decisions, as the organization seeks to create abetter future for all.
A cornerstone of Saudi Arabia’s Vision 2030 ambition to diversify its economy, RSG is playing a key role in transforming the nation, by creating exciting opportunities for young Saudi talent and the private sector, as it develops built assets and destinations across multiple sectors that make a positive impact for people and planet.
RSG is the visionary company behind some of the world’s most ambitious development ventures, including luxury regenerative tourism destinations such as The Red Sea and AMAALA.
Across its portfolio, RSG leverages the most innovative concepts, strategies, and technologies to deliver projects that actively enhance the wellbeing of customers, communities, and environments.
