27 Oct 2021
Six Senses, Raffles, Fairmont, St. Regis and Jumeirah ink deal to operate resorts at 92-island mega-project in Saudi Arabia
BY Megan Whitby
The Red Sea Development Company (TRSDC), the developer behind the ambitious regenerative tourism project The Red Sea Project (TRSP) in Western Saudi Arabia, has announced the signing of nine hotel management agreements with international hotel brands.
The following brands will operate resorts in the first phase of TRSP’s development:
– EDITION Hotels and St. Regis Hotels & Resorts, part of Marriott International.
– Fairmont Hotel & Resorts, Raffles Hotels & Resorts and SLS Hotels & Residences, part of Accor.
– Grand Hyatt, part of Hyatt Hotels Corporation.
– Intercontinental Hotels & Resorts and Six Senses, part of IHG Hotels & Resorts.
– Jumeirah Hotels & Resorts, a global luxury hospitality company.
The agreements were unveiled at the 2021 Future Investment Initiative conference (FII).
The collection of hospitality brands are set to operate nine of the 16 properties currently under development.
The majority of the brands provide dedicated spa and wellbeing facilities as part of their offering, however, details about the wellness offering at the individual resorts are yet to be released.
The nine locations will collectively feature more than 1,700 hotel keys.
“Saudi Arabia is accelerating its development of a new tourism offering in the Kingdom, fuelled by the ambitious Vision 2030 program,” says John Pagano, CEO at TRSDC.
“We’re working with world-leading hotel operators who share our vision to deliver exciting growth opportunities for the Kingdom’s tourism and hospitality market, while protecting the natural environment, benefitting our local community and delivering extraordinary 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,” he adds.
By 2030, TRSP is expected to host a million visitors annually, capped in line with its sustainability ambitions, creating upwards of 70,000 new jobs and contributing SAR 22bn (€ 5.1bn, US$5.9bn, £4.3bn) to the nation’s GDP once fully operational.
Each brand at TRSP has embraced the vision of the project and agreed to work together to collaborate in making the destination a success.
The partners have welcomed the sustainability standards of TRSDC and its broader commitment towards regenerative tourism development.
“Hospitality is the anchor of TRSP. We’re determined to create a world-class luxury destination and the hotel brands we partner with play a crucial role in delivering on this ambition,” says Jay Rosen, chief financial officer at TRSDC.
“Our partnerships are cemented through a collaborative framework that emphasises synchronicity between all brands. In doing so, we aim to create more value and maximise destination success, empowering stakeholders to benefit from shared best practices and economies of scale.”
TRSP’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.
TRSDC expects to announce additional international hotel brand partnerships in the coming months.
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.
In other recent news, TRSDC unveiled plans for an Chad Oppenheim-designed desert mountain resort and spa as part of the project – click here to read more.
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