Accor has signed a grasp growth settlement with BinDawood Funding, by way of its hospitality arm Al Qimmah, to develop and handle a portfolio of greater than 3,000 keys throughout Saudi Arabia, together with tasks in Makkah and Madinah.
The settlement will see the introduction of Accor’s premium, midscale, and financial system manufacturers throughout metropolis accommodations, serviced flats, resorts, and properties designed to serve spiritual tourism.
The primary part contains 4 flagship tasks. A 288-key Swissôtel is deliberate in Jeddah close to King Abdulaziz Worldwide Airport, set to open in 2029. Madinah will see a 1,015-key Mövenpick within the northwest of town, with connectivity through Abu Bakr Al Siddiq street and entry to the Holy Mosque, additionally opening in 2029.
Two present Makkah properties can be reworked. The 801-key ibis Types Makkah Mesfalah will bear a full renovation and reopen in 2027. The 1,078-key Mercure Makkah Shesha can even be renovated and reopen in 2027.
Dr. Abdulrazzaq Bindawood, Chairman stated, “By way of BinDawood Funding and its subsidiaries, we’re proud to be shaping a brand new chapter within the Kingdom’s hospitality journey. Our partnership with Accor underscores our dedication to turning into a long-term chief in hospitality funding, constructing on our retail legacy to create locations that can serve thousands and thousands of tourists for a few years to return. These developments are a part of a generational outlook guaranteeing that Saudi Arabia stays on the forefront of worldwide tourism.”
Duncan O’Rourke, Chief Govt Officer, Premium, Midscale & Economic system Division for Center East, Africa & Asia Pacific at Accor stated, “Our partnership with BinDawood Funding’s Al Qimmah Hospitality represents a shared dedication to supporting the Kingdom’s formidable tourism agenda, one outlined by innovation, scale, and cultural resonance. By way of this settlement, we are going to ship a various pipeline of tasks, with the primary launch setting in movement the rollout of greater than 3,000 keys strengthening Accor’s place as a catalyst for Saudi Arabia’s hospitality transformation in keeping with Imaginative and prescient 2030.”
“Our portfolio will set new benchmarks for spiritual and leisure journey, enhancing the expertise for thousands and thousands of tourists, and cement Saudi Arabia’s place as a world tourism chief for many years to return,” he added.
Accor presently operates 46 accommodations and branded residences in Saudi Arabia, representing over 18,000 keys throughout 15 manufacturers.
