Saudi Arabia’s The Red Sea Development Company (TRDC) announced it has signed agreements with international hotel brands including Marriott and Interncontinental, the company’s CEO told Al Arabiya during the sidelines of the Future Investment Initiative in Riyadh.
“We're going to bring to the destination EDITION, St. Regis. We're bringing Fairmont, SLS Raffles, the Grand Hyatt. We're also bringing the Intercontinental, a Six Senses resort. And lastly, Jumeirah. I mean, Jumeirah owns the beach space in the region, and they're going to be a great partner for us. So, we're delighted to be welcoming these fantastic brands to the Red Sea, which really is an endorsement of the Red Sea project, but also in Saudi Arabia and the future of what tourism can be in this country,” Pagano told Al Arabiya on Wednesday.
The agreements signed so far 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 InterContinental Hotels Group (IHG); and the Jumeirah Group.
According to the CEO, TRDC has so far awarded in excess of 600 contracts on the Red Sea and over 18 billion riyal have been committed to date.
“The first hotels will open up at the end of next year and then the following year we will complete our first phase, which is 16 hotels, a brand new international airport, a new town for 14,000 people. So we're on track and we're ready to welcome the world to come and explore the wonders of Saudi Arabia,” Pagano added.