The Red Sea Development Company (TRSDC), the developer behind the world’s most ambitious regenerative tourism project, 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.
The Agreements includes with the following brands:
- 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;
- Jumeirah Hotels & Resorts, a global luxury hospitality company.
The Red Sea Project’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 that will be accessible by 80 percent of the world’s population in less than eight hours and expected to serve up to one million passengers per year by 2030.
