October 28, 2021 – The Red Sea Development Company (TRSDC) 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 Project.
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, CEO of TRSDC.
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