TRSDC inks 9 hotel deals for Phase 1 of The Red Sea project – MEP MiddleEast

TRSDC inks 9 hotel deals for Phase 1 of The Red Sea project – MEP MiddleEast

Saudi Arabia’s Public Investment Fund (PIF)-led The Red Sea Development Company (TRSDC) — which is the developer of the kingdom’s 28,000km2 The Red Sea Project, one of the world’s most ambitious tourism initiatives — has announced the signing of nine hotel management agreements with international hotel brands to operate resorts in Phase 1 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 Phase 1 and will collectively feature more than 1,700 hotel keys of the total 3,000 keys planned for Phase 1 of the giga-project.

These deals were inked with 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; and Jumeirah Hotels & Resorts, a global luxury hospitality company.