Saudi Arabia’s Crown Prince Mohammed bin Salman has unveiled ‘Boutique Group’ to develop historical palaces into luxury boutique hotels, the Kingdom’s Public Investment Fund (PIF) announced on Thursday.
Boutique Group is a “a new hospitality brand that will manage and convert a collection of iconic historic and cultural palaces in Saudi Arabia into ultra-luxury boutique hotels. The company will revive the vibrant heritage and culture of Saudi Arabia to create a new and unique hospitality experience,” the PIF announced in a statement on Thursday.
Yasir al-Rumayyan, Governor of PIF, said, “His Royal Highness the Crown Prince’s launch of the Boutique Group underlines PIF’s mandate to unlock the capabilities of promising sectors in Saudi Arabia that can help drive the diversification of the economy and contribute to non-oil GDP growth.”
He added, “The group will enhance the Kingdom’s already unique tourism offerings, strengthening Saudi Arabia’s position as a leading regional and international tourism and cultural destination and contributing to Saudi Vision 2030.”
The first phase of the project will focus on the development of three palaces including al-Hamra Palace in Jeddah, Tuwaiq Palace and Red Palace in Riyadh.
Al-Hamra Palace will reportedly offer 77 keys, including 33 luxury palace suites and 44 luxury villas in Jeddah. Tuwaiq Palace will provide 96 keys of 40 luxury palace suites and 56 luxury villas. Whereas Red Palace will offer 71 keys, including 46 luxury suites, and 25 luxury guest rooms.
Youngest of 10 Buffalo shooting victims laid to rest
Israel confirms its first monkeypox case
Saudi Arabia says fully ready to monitor, deal with monkeypox cases
Ukraine needs full EU candidacy not ‘compromise:’ Zelenskyy
Police report 2nd death from tornado in northern Michigan
Middle East2 weeks ago
Jordan’s King Abdullah to meet Biden, other top US officials this week: Sources
Middle East1 week ago
Saudi Arabia, US strengthen cooperation in technology, space as part of Vision 2030
Europe1 week ago
Another Russian naval ship is on fire in the Black Sea: Ukraine
Business4 days ago
Global NFT spending on track to reach all-time high, with $37bn spent so far
Asia2 weeks ago
Thailand targets homegrown mRNA COVID-19 vaccine rollout by end-2022
Business1 week ago
Elon Musk says Twitter deal ‘temporarily on hold’
Middle East3 days ago
Jordan’s king issues decree restricting Prince Hamzah’s movement, communications
Middle East3 days ago
Lebanon gets Interpol notice for Ghosn arrest: Source