Saudi Public Investment Fund (PIF) Unveils Ultra-luxury Hospitality Brand ‘Boutique Group’ — Source: Boutique Group
  • ‘Boutique Group’ to transform a collection of iconic historic and cultural palaces into luxurious boutique hotels in Saudi Arabia
  • First phase to focus on the development of three palaces – Al Hamra Palace in Jeddah, Tuwaiq Palace and Red Palace in Riyadh
  • Announcement is in line with PIF’s strategy to focus on unlocking the capabilities of promising sectors in the Kingdom, including tourism and hospitality, to support Saudi Arabia’s position regionally and internationally as a leading tourism and cultural destination

His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister, Chairman of the Council for Economic and Development Affairs, and Chairman of the Public Investment Fund (PIF), announced today the launch of ‘Boutique Group’, 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 first phase of the project will focus on the development of three historic palaces in cooperation with the private sector, including Al Hamra Palace that will offer 77 keys including 33 luxury palace suites and 44 luxury villas in Jeddah. Tuwaiq Palace will provide 96 keys including 40 luxury palace suites and 56 luxury villas. Whereas Red Palace will offer 71 keys including 46 luxury suites, and 25 luxury guest rooms. Both Tuwaiq and Red Palace are located in Riyadh.

Boutique Group will blend the Kingdom's culture and heritage with modern amenities to provide an exclusive hospitality experience and a unique service to its guests, growing the Saudi ultra-luxury hospitality sector and contributing to the development of the local economy. The company will also offer many high-end experiences from dining to wellness to exclusive services for each guest.

H.E. 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.

“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,” H.E added.

About Boutique Group

Boutique Group is a hospitality company wholly owned by Saudi Arabia's Public Investment Fund (PIF). The group aims to develop, manage and operate historical and cultural palaces in the Kingdom and transform them into ultra- luxury boutique hotels to revive the vibrant national heritage with the authentic culture of the Kingdom, and provide an exceptional and unique hospitality experience. In addition, the group translates the commitment of the PIF to developing promising sectors in the Kingdom and contributing to the diversification of the Saudi economy.

Website: https://boutiquegroup.com
Social media: @BoutiqueGroupSA