Saudi's Boutique Group CEO Targets 2026 for First Luxury Palace Hotel

Key Points

• Boutique Group aims to open its first luxury palace hotel, the Red Palace in Riyadh, by early 2026, with three more openings through 2028.
• The group targets high-end international travelers, especially from the U.S., GCC, Asia, and Europe, despite concerns about oversupply in Saudi's luxury hotel sector.
• No delays or budget cuts have been reported, and phase two plans include expanding to other historic palaces and possibly branded residences.

Summary

Boutique Group, backed by Saudi Arabia's Public Investment Fund, is set to open its first luxury palace hotel, the Red Palace in Riyadh, in early 2026, with additional historic palaces to follow by 2028. CEO Christoph Mares emphasizes a focus on ultra-luxury standards, targeting both domestic and international markets, particularly the U.S., amid concerns of high-end hotel oversupply in Saudi Arabia. The group reports steady progress with no cutbacks or delays and is already considering further expansion to more palaces and branded residences in phase two.