The Red Sea Development Company (TRSDC) has confirmed 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 Project.
The agreements, signed at the Future Hospitality Summit in Riyadh, are with Ritz Carlton Reserve, Miraval Hotels, and Rosewood.
“This announcement demonstrates industry confidence in The Red Sea Project, 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, CEO of TRSDC.
“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,” he added.
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 features nearly 500 hotel keys of the total 3,000 planned for phase one.
“This announcement demonstrates industry confidence in The Red Sea Project, with a total of 12 hospitality brands now confirmed”
This trio of luxury hotel companies join a stellar line-up of globally renowned brands that have already confirmed they will operate at The Red Sea Project, 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.
The new collection of hospitality brands collectively features nearly 500 hotel keys
Jay Rosen, Chief Financial Officer at TRSDC, commented: “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. The Red Sea Project 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 be complete by the end of 2023.”