Saudi Crown Prince Mohammed bin Salman and Chairman of the Public Investment Fund announced the launch of Boutique Group, a new hospitality brand that will manage and convert a collection of Saudi Arabia’s most iconic historic and cultural palaces to create a new and unique hospitality experience.
The project’s first phase will focus on the development of three historic palaces in collaboration with the private sector, including Al Hamra Palace, which will have 77 rooms, 33 luxury palace suites, and 44 luxury villas. Tuwaiq Palace, located in Riyadh’s Diplomatic Quarter, will offer 96 keys, including 40 luxury palace suites and 56 luxury villas, while the Red Palace, the former headquarters of Saudi Arabia’s Board of Grievances, will offer 71 keys, including 46 luxury suites and 25 luxury guest rooms.
The project’s first phase will focus on the development of three historic palaces
The Boutique Group will combine the Kingdom’s history and heritage with modern conveniences to deliver an exclusive hospitality experience and a one-of-a-kind service to its visitors, helping to grow the Saudi ultra-luxury hospitality sector while also contributing to the local economy’s development. The organization will also provide a variety of high-end experiences for each guest, ranging from dining to wellness to exclusive services.
“The group will enhance the Kingdom’s already unique tourism offerings”
Yasir Al-Rumayyan, Governor of Saudi Arabia’s Public Investment Fund (PIF), commented: “His Royal Highness the Crown Prince’s launch of the Boutique Group underlines PIF’s mandate to unlock the capabilities of promising sectors in Saudi Arabia that can help drive the diversification of the economy and contribute to non-oil GDP growth.
“The group will enhance the Kingdom’s already unique tourism offerings, strengthening Saudi Arabia’s position as a leading regional and international tourism and cultural destination and contributing to Saudi Vision 2030.”