Marriott To Debut This Private Sanctuary As Part Of Saudi Arabia's Red Sea Destination

Marriott International Inc MAR has signed an agreement with The Red Sea Development Company to debut its Ritz-Carlton Reserve brand off the west coast of Saudi Arabia.
Slated to debut in 2023, Nujuma, a Ritz-Carlton Reserve, will be the first property from the brand in the Middle East.
Nujuma will be situated on private islands part of the red sea's Blue Hole cluster of islands.
The destination is also expected to include 18 Ritz-Carlton Reserve branded residences.
Price Action: MAR shares are trading higher by 0.72% at $156.34 on the last check Monday.