Mohammad Bin Salman Al Saud, crown prince of Saudi Arabia, has launched Boutique Group.
According to a statement from the kingdom’s Public Investment Fund (PIF), Boutique Group will build Jeddah’s Al Hamra Palace and Riyadh’s Tuwaiq Palace and Red Palace. The sites will have 244 rooms, suites and villas. As part of the new hospitality brand, several historic and cultural palaces in Saudi Arabia will be converted into ultra-luxury hotels.
To create a unique hospitality experience, the company will revive Saudi Arabia’s rich heritage and culture.
As part of phase one of the project, three historical palaces will be redeveloped in partnership with the private sector, including Al Hamra Palace offering 77 luxury keys, including 33 palace suites and 44 villas in Jeddah.
Red Palace will have 71 keys including 46 luxury suites, and 25 luxury guest rooms, whereas Tuwaiq Palace will offer 96 keys including 40 luxury palace suites and 56 luxury villas. Riyadh is home to both Tuwaiq and Red Palace.
It also promises to offer guests a wide variety of high-end experiences ranging from dining to wellness to exclusive services.
As part of its plans to diversify its economy, the world’s biggest oil exporter hopes to make tourism a 10% contributor to its gross domestic product by 2030.
