RSG, Marriott partner to bring Ritz-Carlton to wellness destination AMAALA

Lindsay Madden-Nadeau, senior director of wellness strategy at Red Sea Global, speaking to Arab News. AN
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Updated 02 October 2024
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RSG, Marriott partner to bring Ritz-Carlton to wellness destination AMAALA

DUBAI: A new wellness-focused Ritz-Carlton destination is set to open in Saudi Arabia as Red Sea Global inked a strategic agreement with Marriott International.     

The new destination will be part of the luxury wellness spot AMAALA development and marks the fourth collaboration between the two organizations.     

Scheduled to open in 2025, the Ritz-Carlton will be situated at the northernmost point of Triple Bay, a key area within the AMAALA project.     

The new property will feature 391 guestrooms, with 80 percent of these offering water-facing views, alongside a mix of Marina Village, sea, and mountain views.     

In an interview with Arab News during the Future Hospitality Summit in Dubai, Lindsay Madden-Nadeau, senior director of wellness strategy at Red Sea Global, emphasized the importance of collaboration in shaping the wellness portfolio of the AMAALA project.     

“We’re constantly looking at different brands and experiences that will help enhance and leverage our already existing wellness portfolio,” Madden-Nadeau said. “I think the power of collaboration goes a long way these days,” she added.     

The new destination's design, created by Foster + Partners, seeks to blend in with the natural sand dune landscape, which has been preserved to offer shaded areas. The resort is designed to provide various views of the sea from multiple locations.   

The announcement builds on recent partnership successes, including the opening of the St. Regis Red Sea Resort and Nujuma, a Ritz-Carlton Reserve, as well as the signing of The Red Sea EDITION.     

The new resort’s architecture will reflect the local design influences of Al Wajh, a nearby seaside town, and will incorporate elements of traditional craftsmanship, blending them with contemporary features.     

Madden-Nadeau highlighted the unique position of AMAALA as a destination and how each operator brings a distinctive advantage to the location.     

The new Ritz-Carlton will include a range of leisure and wellness amenities, such as multiple culinary venues, including sunset-facing restaurants, a spa, fitness and recreational centers, adult and family pools, and a rock pool.   

The property will offer expansive event facilities, including a ballroom and meeting spaces capable of accommodating up to 1,500 guests, suitable for weddings, conferences, and corporate events.     

The AMAALA project is focused on delivering a wellness and luxury tourism experience, with the first phase of the Triple Bay masterplan set to welcome its guests in 2025.     

This initial phase will include eight resorts with over 1,400 hotel keys. Once complete, AMAALA will encompass more than 4,000 hotel rooms across 30 hotels, in addition to approximately 1,200 luxury residential units, including villas, apartments, and estate homes, alongside retail, dining, and recreational facilities.     

Madden-Nadeau also spoke about the upcoming additions to their wellness offerings. “In general, over the next six months, we hope to be able to announce three additional brands. Two of them will be dedicated wellness operators that really complement the already existing assets and operators that are there,” she said.     

“We’re also looking at developing our own wellness brand, and we’re in exploratory phases of that right now. And we have another asset that we’re working on, something that’s new to the market, something that’s a bit disruptive, and so we’re exploring that as well,” she added.


Silver crosses $77 mark while gold, platinum stretch record highs

Updated 27 December 2025
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Silver crosses $77 mark while gold, platinum stretch record highs

  • Spot silver touched an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits
  • Spot platinum rose 9.8% to $2,437.72 per ounce, while palladium surged 14 percent to $1,927.81, its highest level in over 3 years

Silver breached the $77 mark for the first time on Friday, while gold and platinum hit record highs, buoyed by expectations of US Federal Reserve rate cuts and geopolitical tensions that fueled safe-haven demand.

Spot silver jumped 7.5% to $77.30 per ounce, as of 1:53 p.m. ET (1853 GMT), after touching an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits, its designation ‌as a US ‌critical mineral, and strong investment inflows.

Spot gold ‌was ⁠up ​1.2% at $4,531.41 ‌per ounce, after hitting a record $4,549.71 earlier. US gold futures for February delivery settled 1.1% higher at $4,552.70.

“Expectations for further Fed easing in 2026, a weak dollar and heightened geopolitical tensions are driving volatility in thin markets. While there is some risk of profit-taking before the year-end, the trend remains strong,” said Peter Grant, vice president and senior metals strategist ⁠at Zaner Metals.

Markets are anticipating two rate cuts in 2026, with the first likely ‌around mid-year amid speculation that US President Donald ‍Trump could name a dovish ‍Fed chair, reinforcing expectations for a more accommodative monetary stance.

The US ‍dollar index was on track for a weekly decline, enhancing the appeal of dollar-priced gold for overseas buyers.

On the geopolitical front, the US carried out airstrikes against Daesh militants in northwest Nigeria, Trump said on Thursday.

“$80 in ​silver is within reach by year-end. For gold, the next objective is $4,686.61, with $5,000 likely in the first half of next ⁠year,” Grant added.

Gold remains poised for its strongest annual gain since 1979, underpinned by Fed policy easing, central bank purchases, ETF inflows, and ongoing de-dollarization trends.

On the physical demand side, gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week’s five-year highs.

Elsewhere, spot platinum rose 9.8% to $2,437.72 per ounce, having earlier hit a record high of $2,454.12 while palladium surged 14% to $1,927.81, its highest level in more than three years.

All precious ‌metals logged weekly gains, with platinum recording its strongest weekly rise on record.