Travel, Tourism & Hospitality
Accor to develop portfolio of over 3,000 keys in Saudi Arabia
Accor has signed a master development agreement with BinDawood Investment, through its dedicated hospitality arm Al Qimmah, to develop and manage a portfolio of over 3,000 keys across Saudi Arabia, including landmark projects in the Holy Cities.
Accor, a hospitality group and hotel operator in Saudi Arabia, has signed a master development agreement with BinDawood Investment, through its dedicated hospitality arm Al Qimmah, to develop and manage a portfolio of over 3,000 keys across Saudi Arabia, including landmark projects in the Holy Cities.
The agreement solidifies BinDawood Investment role as a leading investor in the Kingdom’s hospitality transformation, confirming its alignment with the nation’s tourism plans for the decades ahead.
As part of the agreement, Accor will introduce its premium, midscale, and economy brands across a diverse range of developments, spanning city hotels, serviced apartments, resorts and properties designed to serve religious tourism.
The first phase will feature four flagship projects, including a new-build 288-key Swissotel in Jeddah, which will be strategically located near King Abdulaziz International Airport and is set to open in 2029. Simultaneously, Madinah will welcome a new-build 1,015-key Movenpick property in the northwest of the city, offering excellent connectivity via the Abu Bakr Al Siddiq road and convenient access to the Holy Mosque, also opening in 2029.
Further bolstering Accor's presence in the Holy Cities, Makkah will see the transformation of two existing properties. The ibis Styles Makkah Mesfalah, an 801-key economy hotel less than 2 km south of the Holy Mosque, will undergo a full renovation to provide enhanced accessibility for pilgrims, with reopening scheduled for 2027. Similarly, the Mercure Makkah Shesha, a 1,078-key midscale hotel conveniently located near the Mina pilgrimage site, will also undergo a complete renovation, welcoming guests in 2027.
Following the announcement of the agreement, Dr. Abdulrazzaq Bindawood, Chairman said: “Through BinDawood Investment and its subsidiaries, we are proud to be shaping a new chapter in the Kingdom’s hospitality journey. Our partnership with Accor underscores our commitment to becoming a long-term leader in hospitality investment, building on our retail legacy to create destinations that will serve millions of visitors for many years to come. These developments are part of a generational outlook ensuring that Saudi Arabia remains at the forefront of global tourism.”
Duncan O’Rourke, Chief Executive Officer, Premium, Midscale & Economy Division for Middle East, Africa & Asia Pacific at Accor said: “Our partnership with BinDawood Investment’s Al Qimmah Hospitality represents a shared commitment to supporting the Kingdom's ambitious tourism agenda, one defined by innovation, scale, and cultural resonance. Through this agreement, we will deliver a diverse pipeline of projects, with the first launch setting in motion the rollout of more than 3,000 keys strengthening Accor’s position as a catalyst for Saudi Arabia’s hospitality transformation in line with Vision 2030. Our portfolio will set new benchmarks for religious and leisure travel, enhancing the experience for millions of visitors, and cement Saudi Arabia’s position as a global tourism leader for decades to come." -TradeArabia News Service