Accor secures strategic partnership with BinDawood Investment to expand portfolio by over 3,000 hotel keys across Saudi Arabia

SAUDI ARABIA – Accor, renowned as the world’s leading hospitality group and dominating hotel operator in the Kingdom of Saudi Arabia, has formalised a master development agreement with BinDawood Investment through its hospitality division, Al Qimmah.

This alliance aims to develop and operate a substantial hotel portfolio exceeding 3,000 keys across Saudi Arabia, including landmark projects in the Kingdom’s Holy Cities.

This collaboration highlights BinDawood Investment’s emerging leadership as a key investor in Saudi Arabia’s evolving hospitality scene.

It aligns tightly with the nation’s long-term tourism objectives and economic diversification plans.

By bringing Accor’s premium, midscale, and economy brands into its portfolio, the partnership covers a broad spectrum of hospitality products, from city hotels and serviced apartments to resorts and properties specifically designed to cater to religious travelers.

Phase one of the development includes four major projects. In Jeddah, Accor will introduce a 288-key Swissôtel strategically positioned near King Abdulaziz International Airport, slated to open in 2029.

Simultaneously, a new 1,015-key Mövenpick hotel will launch in the northwestern part of Madinah, granting convenient access to the Holy Mosque via Abu Bakr Al Siddiq road, also planned for a 2029 opening.

Further strengthening Accor’s portfolio in the Holy Cities, two existing hotels in Makkah will undergo extensive renovations.

The ibis Styles Makkah Mesfalah, an 801-key economy hotel located less than 2 kilometers south of the Holy Mosque, will be revitalised to improve accessibility for pilgrims, aiming for a 2027 reopening.

Likewise, the Mercure Makkah Shesha, a 1,078-key midscale hotel near the Mina pilgrimage location, will receive a complete refurbishment, also reopening in 2027.

Dr. Abdulrazzaq Bindawood, Chairman of BinDawood Investment, stated, “This agreement marks a significant milestone in our commitment to develop world-class hospitality assets supporting the Kingdom’s vision. We look forward to working with Accor to deliver memorable experiences for millions of visitors.”

Duncan O’Rourke, CEO for Accor Premium, Midscale & Economy in the Middle East, emphasised the partnership’s value in accelerating Saudi Arabia’s hospitality growth through innovative, culturally enriched developments.

Currently, Accor boasts 46 hotels across 15 brands in Saudi Arabia with over 18,000 keys. This master development deal solidifies its market leadership and dedication to Vision 2030’s tourism goals.

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