(MENAFN- Mid-East Info) STRATEGIC PARTNERSHIP TO DELIVER PREMIUM, MIDSCALE, AND ECONOMY PROPERTIES ACROSS JEDDAH, MAKKAH, AND MADINAH, REINFORCING THE COMMITMENT OF BINDAWOOD INVESTMENT AND ACCOR, TO THE SAUDI VISION 2030 AND THE DIVERSIFICATION OF THE LOCAL HOSPITALITY SECTOR
JEDDAH, KINGDOM OF SAUDI ARABIA; SEPTEMBER, 2025 – Accor, a world-leading hospitality group and the largest hotel operator in the Kingdom of 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 Swissôtel 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 Mövenpick 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.”
Accor currently operates 46 hotels and branded residences across Saudi Arabia, representing over 18,000 keys across 15 brands. The Group has the largest presence of any international operator in the religious markets of Makkah and Madinah, operating 14 hotels representing over 12,600 keys with a dedicated cluster providing market specific capabilities in sales, distribution, marketing and PR in addition to the core functions to target the religious traveller.
ABOUT ACCOR:
Accor is a world-leading hospitality group offering stays and experiences across more than 110 countries with over 5,700 hotels & resorts, 10,000 food & beverage venues, wellness facilities and flexible workspaces. The Group has one of the industry's most diverse hospitality ecosystems, encompassing around 45 hotel brands from luxury to economy, as well as lifestyle with Ennismore. ALL Accor, the booking platform and loyalty program embodies the Accor promise during and beyond the hotel stay, gives its members access to unique experiences. Accor is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity, and inclusivity. Accor's mission is reflected in the Group's purpose: Pioneering the art of responsible hospitality, connecting cultures, with heartfelt care. Founded in 1967, Accor SA is headquartered in France. Included in the CAC 40 index, the Group is publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States.
BINDAWOOD INVESTMENT AND AL QIMMAH HOSPITALITY COMPANY:
BinDawood Investment is one of the Kingdom's most prominent family-owned conglomerates, with a diversified portfolio spanning real estate, industrial, and infrastructure investments. Most recently, the company announced the establishment of a landmark investment fund in Syria, valued at over USD 1 billion during the visit to Damascus led by His Excellency Engineer Khalid Al-Falih, Saudi Arabia's Minister of Investment, in July. Al Qimmah Hospitality Company (the hospitality division of BinDawood Investment) is spearheading the group's expansion into the Kingdom's tourism and hospitality sector. With more than 30 hotels planned across Saudi Arabia, Al Qimmah is already developing landmark projects such as the JW Marriott Jeddah and the world's largest Courtyard by Marriott in Makkah (2,400 keys) marking a significant milestone in the evolution of Saudi Arabia's hospitality landscape.
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