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Red Sea Global Adds Three Globally Renowned Hotel Brands to its Luxury Portfolio

Published

25 May 2022

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Red Sea Global Adds Three Globally Renowned Hotel Brands to its Luxury Portfolio

Published

25 May 2022

Share

- 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. "

 
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,
Said John Pagano, Group CEO of RSG.
"“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.” "

 
"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. "

 
"“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."

 

About Red Sea Global

Red Sea Global (RSG - www.redseaglobal.com ) is a closed joint-stockcompany wholly owned by the Public Investment Fund (PIF) of SaudiArabia. It is a vertically integrated real estate developer with adiverse portfolio across tourism, residential, experiences,infrastructure, transport, healthcare, and services. This includes theluxury regenerative tourism destinations The Red Sea, which beganwelcoming guests in 2023, and AMAALA, which remains on track to welcomefirst guests in 2025. A third destination, Thuwal Private Retreat, willopen this year, and RSG has also been entrusted with refurbishment worksat Al Wajh Airport, focused on upgrading the existing terminal andinfrastructure, and building a new international terminal. RSG is acornerstone of Saudi Arabia’s ambition to diversify its economy. Acrossits growing portfolio of destinations, subsidiaries and businesses, RSGseeks to lead the world towards a more sustainable future, showing howresponsible development can uplift communities, drive economies, andenhance the environment.

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.

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