Saudi Arabia: 9 hotel chains join Red Sea project

Accords cover 9 of 16 hotels under construction in east

28 October, 13:53

    NAPLES - The Red Sea Development Company, which develops mega-tourism projects on Saudi Arabia's west coast, has signed nine agreements with international hotel brands for the first phase of its luxury project. The nine hotel companies include the Edition Hotels and St Regis Hotels & Resorts, part of Marriott International; Fairmont Hotel & Resorts, Raffles Hotels & Resorts and SLS Hotels & Residences, which are part of international group Accor. Other hotels are also the Grand Hyatt, Intercontinental Hotels & Resorts and Jumeirah Hotels & Resorts, a group from Dubai.
    "Such partnership with globally recognized and respected brands signifies the growing confidence in our business, our flagship destination and in Saudi Arabia as a tourism destination", John Pagano, chief executive of The Red Sea Development Company (TRSDC), was quoted as saying on Wednesday by the newspaper The National.
    The projects are part of Saudi Arabia's Vision 2030 strategy to diversify its economy and cut reliance on oil. The agreement was signed during the Future Investment Initiative (FII) in Riyadh, during which it was announced that the brands will manage nine of the 16 facilities that are being built, with the creation of 1,700 hotel rooms out of the first 3,000 planned.
    "We are working with world-leading hotel operators who share our vision to deliver exciting growth opportunities for the kingdom's tourism and hospitality market, whilst protecting the natural environment, benefiting our local community and delivering extraordinary and immersive guest experiences", Pagano said.
    The first part of the transformation of the area on the Red Sea also provides for the construction of a high-level tourism port, a golf course with 18 holes, amusement facilities and an international airport expected to welcome one million passengers a year by 2030.

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