Wednesday 29 June 2022

TRSDC inks deals with three top international hotel brands

RIYADH, May 25, 2022

The Red Sea Development Company (TRSDC), the Saudi developer behind the world’s most ambitious regenerative tourism project, has confirmed today (May 25) 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 deals, inked at the Future Hospitality Summit in Riyadh, involve big names such as 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 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 feature nearly 500 hotel keys of the total 3,000 planned for Phase One.
According to TRSDC, the luxury hotel companies join a stellar line-up of globally renowned brands that have already confirmed they will operate at The Red Sea Project.
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.
“Our impressive roster of hospitality brands are united in their commitment to help us create a one-of-a-kind world-class luxury destination," stated Jay Rosen, Chief Financial Officer at TRSDC.
"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," he said.
"These additional hotel management agreements mark the significant progress we are making as we work towards welcoming visitors from around the world," he noted. 
Rosen pointed out that the Red Sea Project had already passed significant milestones and work was 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," he added.
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.-TradeArabia News Service


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