(MENAFN- Mid-East Info) *Christoph Mares, CEO, Boutique Group,Livio Faverio, General Manager and Vice President, The Red Palace.

Riyadh, October 21, 2025: Boutique Group, the hospitality company fully owned by the Public Investment Fund (PIF), is pleased to announce the appointment of Livio Faverio as General Manager and Vice President of The Red Palace, the highly anticipated hotel set to open in Riyadh in 2026.

Faverio's appointment marks a significant milestone in Boutique Group's vision for the evolution of The Red Palace as a premier destination, redefining the Saudi hospitality landscape.

“We are delighted to welcome Livio Faverio to Boutique Group and The Red Palace,” said Christoph Mares, CEO of Boutique Group.“Livio's extensive experience in luxury hospitality, combined with his proven leadership and entrepreneurial spirit, makes him the ideal candidate to steer The Red Palace to success. We are confident that his vision and expertise will be instrumental in establishing the property as a landmark destination.”

A highly accomplished international hotelier, Faverio's career spans across several luxury international hotel chains. His expertise in managing award-winning properties and delivering excellent results cover all aspects of hotel operations, from rooms and large-scale F&B operations to destination spas, leisure and residential facilities. Faverio also brings significant experience in sales, marketing, and pre-opening project management, having successfully led multiple luxury hotel openings and repositionings. His commercial acumen and ability to build strong market visibility have consistently delivered record-breaking performance and brand recognition across competitive destinations.

Most recently, as General Manager of the Four Seasons Hotel Lion Palace St. Petersburg, Faverio led the property to achieve international acclaim. Under his leadership, the hotel was recognized as the 2024 Best Hotel in Russian at the country's annual WhereToTravel awards, underscoring his ability to position properties at the forefront of the global luxury hospitality landscape.

Known for his strategic vision, entrepreneurial spirit, and commitment to fostering a culture of empowerment and accountability, Faverio is passionate about fostering inclusiveness and talent development. He is now leveraging his extensive experience to lead The Red Palace into a new era of refined luxury and guest satisfaction.

“I am honored to join Boutique Group and champion The Red Palace during such an exciting time for Saudi Arabia's hospitality sector,” said Livio Faverio.“This project represents a rare opportunity to blend timeless heritage with contemporary luxury while creating a truly exceptional hospitality experience in Riyadh. I look forward to working in Saudi Arabia with the team to establish The Red Palace as a world-class destination that reflects the Kingdom's vision and ambition.”

About Boutique Group:

Boutique Group is a hospitality company wholly owned by Saudi Arabia's Public Investment Fund (PIF). The group develops, manages and operates historical and cultural palaces in the Kingdom and transforms 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.

MENAFN23102025005446012082ID1110238806