Red Sea Development Company Sign 9-Accord

Red Sea Development Company announced that it has signed 9 agreements with world-renowned brands, to manage and operate its hotels, at the first phase of the Red Sea project.

The agreements were signed on the sidelines of the second day of the 5th Investment Future Initiative, under which a group of world class hospitality brands, will operate 9 out of 16 hotels, in the first development phase, collectively provide more than 1,700 rooms out of a total of 3,000 rooms, within the phase, which is the first among the Red Sea project.

Hospitality brands include Edition Hotels, the St. Regis Hotels and Resorts of Marriott International, Fairmont Hotels and Resorts, Raffles Hotels and Resorts, and SLS Hotels & Residences of the global hospitality groupو Accor, Grand Hyatt of the Hyatt Hotels Group, InterContinental Hotels and Resorts, Six Senses of InterContinental Hotels Group, and Jumeirah Group, a global luxury hotel company.

“The Kingdom is working today to accelerate the development of its new tourism offerings, based on the ambitious Vision 2030. And to be a world leader and the gateway to one of the unique, undiscovered places on our planet,” John Pagano, CEO of the Red Sea Development Company said.

Most of all, these partnerships with internationally reputable brands reflect the growing confidence in our business and our destination, in particular, and the Kingdom as a tourist destination in general,” he added.