Global hospitality group Accor, one of the hotel operators in Saudi Arabia, has announced the signing of a major development agreement with Bin Dawood Investment, through its dedicated hospitality arm Al Qimma Hospitality, to develop and manage a portfolio of more than 3,000 hotel rooms across the Kingdom, including landmark projects in Makkah and Madinah.
A press release published on the Accor website said the agreement represents a strategic milestone that strengthens its position in the Saudi market, while cementing Bin Dawood Investment's role as a key investor in the transformation of the Kingdom's hospitality sector.
The new projects will cover hotels in multiple segments, including luxury, midscale and economy, in addition to serviced apartments and resorts, with a special focus on serving religious tourism traffic.
The first phase includes 4 major projects, most notably:
A new Swissôtel in Jeddah with 288 rooms near King Abdulaziz International Airport, scheduled to open in 2029.
A new Mövenpick hotel in Madinah with 1,015 rooms in the northwest of the city on Abu Bakr Al-Siddiq Road, with easy access to the Prophet's Mosque, expected to open in 2029.
A complete renovation of the 801-room ibis Styles Makkah Al Misfalah, less than a kilometer from the Grand Mosque, to reopen in 2027 with enhanced services for pilgrims.
A renovation of the 1,078-room Mercure Makkah Al Shisha, near Mina, planned to reopen in 2027.
For his part, Dr. Abdulrazzaq Bin Dawood, Chairman of Bin Dawood Investment, said: "Through our investments and subsidiaries, we contribute to the development of the hospitality sector in the Kingdom."
He added: "The partnership with Accor reflects our commitment to being a major long-term player in the hospitality sector and to continuing to build destinations that serve millions of visitors for years to come."
In this context, Duncan O'Rourke, CEO of Premium, Midscale and Economy Brands for the Middle East, Africa and Asia-Pacific at Accor, said: "Our partnership with Al Qimma Hospitality is a shared commitment to supporting the Kingdom's tourism agenda, through delivering diverse projects that strengthen Saudi Arabia's position as a global hub for religious and leisure tourism, in line with the goals of Vision 2030."
Accor currently operates 46 hotels under its brands in Saudi Arabia, with more than 18,000 rooms across 15 different brands. It also holds the largest share of international hotels in Makkah and Madinah, operating 14 hotels with more than 12,600 rooms.
It is worth noting that Bin Dawood Investment is one of Saudi Arabia's family groups, with a diversified investment portfolio spanning real estate, industry and infrastructure. Al Qimma Hospitality, the hotel arm of Bin Dawood Investment, leads the group's plans to expand in the tourism and hospitality sector within the Kingdom, with more than 30 hotels under development. These projects include the JW Marriott Jeddah and the world's largest Courtyard by Marriott, in Makkah, with 2,400 rooms, representing a qualitative leap in the evolution of the Kingdom's hospitality landscape.
To view the post on the Accor website, click here.
