TRSDC inks 3 agreements to manage, operate hotels in first phase

Logo of The Red Sea Development Co. (TRSDC)

The Red Sea Development Co. (TRSDC) signed three new agreements with prestigious brands in the hospitality sector to manage and operate a range of first-phase hotels at the Red Sea destination.

The brands include the Ritz-Carlton Reserve and Miraval Resorts, which have their first presence in the Middle East, in addition to Rosewood Hotels, the world's leading luxury hospitality company, the company said in a statement.

The new range of hospitality brands will provide about 500 hotel units out of a total of 3,000 units within the first phase of operation of the Red Sea Project.

This announcement demonstrates industry confidence in the Red Sea destination, with a total of 12 hospitality brands now confirmed. It signifies a growing appetite from global leaders to participate in the expansion of the Saudi tourism market, said John Pagano, CEO of TRSDC.

We are excited to play our part in opening this unique and undiscovered part of the world, setting new benchmarks for sustainable development along the way, Pagano added.