Skift Take
Red Sea Global Hospitality means business and has direct funding from one of the world's largest state wealth funds.
Red Sea Global, the project developer in Saudi Arabia, is building up its hotel business, and it's backed by a fund with more money than the market values of Hilton, Marriott and Accor combined.
Projects include the 73-room overwater villa project called Sheybarah, a 60-room luxury hotel tucked into the mountains, and an entire private island near Jeddah called Thuwal.
The plan is to open 16 hotels by 2025, and another 34 before 2030, though most of these are operated by global companies and not Red Sea Global.
Red Sea Global Hospitality is set up as a department within Red Sea Global and not its own company, a spokesperson said.
Red Sea Hotels Confirmed So Far Desert Rock Resort — 60 keys (operated by Red Sea Global Hospitality) Faena The Red Sea — 150 keys (operated by Faena/Accor) Fairmont Red Sea — 200 keys (operated by Accor) Four Seasons Resort The Red Sea — 149 keys (operated by Four Seasons) Grand Hyatt The Red Se