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Published

27 Oct 2021

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RSG Unveils Hospitality Portfolio of Globally Renowned Luxury Brands for Flagship Project

Published

27 Oct 2021

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Nine international hotel brands sign hotel management agreements for first phase of development at The Red Sea destination. Construction on track to welcome first guests by end of 2022.

Grand Hyatt Hotel

Red Sea Global (Formerly known as TRSDC), the developer behind the world’s most ambitious regenerative tourism projects, The Red Sea and Amaala, has announced the signing of nine hotel management agreements with international hotel brands to operate resorts in the first phase of development at The Red Sea destination.

The agreements were unveiled on Day 2 of the Future Investment Initiative (FII) 2021, with the collection of hospitality brands set to operate nine of the 16 properties currently under development in the first phase and collectively feature more than 1,700 hotel keys of the total 3000 planned for Phase One.

These include 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, a global luxury hospitality company.

 

"Saudi Arabia is accelerating its development of a new tourism offering in the Kingdom, fueled by the ambitious Vision 2030 program. We are proud to unveil our collection of unique and diverse hospitality brands that cater to this growing market and underpin our commitment to creating a world-leading barefoot luxury destination which will soon serve as a gateway to one of the last undiscovered places on the planet,"
Said John Pagano, Group CEO of RSG.

 

Fairmont Hotel & Resorts

SLS Hotels & Residences

“Most importantly, such partnerships with globally recognized and respected brands signifies the growing confidence in our business, our flagship destination and in Saudi Arabia as a tourism destination.” added Pagano.

The announcement underscores RSG’s investment potential as Saudi Arabia continues its economic diversification in line with Vision 2030. By 2030, The Red Sea expects to host one million visitors annually, capped in line with its sustainability ambitions, creating upwards of 70,000 new jobs and contributing SAR 22 billion (USD 5.3 billion) to the nation’s GDP once fully operational.

Six Senses

Each brand at The Red Sea has embraced the vision of the project and have agreed to work together to collaborate in making the destination a success. The partners have welcomed the industry-pioneering sustainability standards of RSG and the broader commitment towards regenerative tourism development.

‎“Hospitality is the anchor of The Red Sea destination. We are determined to create a world-class luxury destination and the hotel brands we partner with play a crucial role in delivering on this ambition. Our partnerships are cemented through a collaborative framework that emphasize synchronicity between all brands. In doing so, we aim to create more value and maximize destination success, empowering stakeholders to benefit from shared best practices and economies of scale,” said Jay Rosen, Chief Financial Officer at RSG.

EDITION Hotels

“The hotel management agreements unveiled today mark a significant milestone for us and we welcome more hotel operators, developers and investors to join us in our journey to build a thriving destination for visitors from around the world.”

The Red Sea’s first phase of development is on track for completion by the end of 2023, with a total of 16 hotels set to offer 3,000 hotel rooms across five islands and two inland sites. RSG expects to announce additional international hotel brand partnerships in the coming months.

Jumeirah Hotels & Resorts

Raffles Hotels & Resorts

“We are working with world-leading hotel operators who share our vision to deliver exciting growth opportunities for the Kingdom’s tourism and hospitality market, whilst protecting the natural environment, benefitting our local community and delivering extraordinary and immersive guest experiences. Our collective mission is to not only curate a hospitality portfolio of architectural distinction, but to also introduce our guests to new destinations and experiences,” added Mr. Pagano.

Upon completion in 2030, the site will host 50 hotels offering up to 8,000 hotel rooms and approximately 1,000 residential properties across 22 islands and six inland sites.

The first phase will also include a luxury marina, an 18-hole championship golf course, entertainment and leisure facilities, as well as an international airport that will be accessible by 80 percent of the world’s population in less than eight hours and expected to serve up to one million passengers per year by 2030.


Intercontinental Hotels & Resorts


St Regis Hotels & Resorts

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) of Saudi Arabia. It is a vertically integrated real estate developer with a diverse portfolio across tourism, residential, experiences, infrastructure, transport, healthcare, and services. This includes the luxury regenerative tourism destinations The Red Sea, which began welcoming guests in 2023, and AMAALA, which remains on track to welcome first guests in 2025. A third destination, Thuwal Private Retreat, will open this year, and RSG has also been entrusted with refurbishment works at Al Wajh Airport, focused on upgrading the existing terminal and infrastructure, and building a new international terminal. RSG is a cornerstone of Saudi Arabia’s ambition to diversify its economy. Across its growing portfolio of destinations, subsidiaries, and businesses, RSG seeks to lead the world towards a more sustainable future, showing how responsible development can uplift communities, drive economies, and enhance 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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