Accor signs master development agreement with Al Qimmah Hospitality to expand Saudi portfolio

Business

Accor signs master development agreement with Al Qimmah Hospitality to expand Saudi portfolio

Accor, the world-leading hospitality group and largest hotel operator in Saudi Arabia, has signed a master development agreement with Al Qimmah Hospitality, the hospitality arm of BinDawood Investment Company, to develop and manage a portfolio of over 3,000 keys across the Kingdom, including landmark projects in Jeddah, Makkah, and Madinah.

The partnership aims to deliver premium, midscale, and economy properties, supporting the Kingdom’s Vision 2030 goals and advancing the diversification of the local hospitality sector. The agreement highlights BinDawood Investment’s role as a leading contributor to Saudi Arabia’s growing tourism landscape.

Project highlights and phases
The first phase includes four flagship projects:

Swissôtel Jeddah: A 288-key new-build property near King Abdulaziz International Airport, scheduled to open in 2029.
Mövenpick Madinah: A 1,015-key new-build property in the northwest of the city with convenient access to the Holy Mosque, opening in 2029.
ibis Styles Makkah Mesfalah: An 801-key economy hotel located less than 2 km south of the Holy Mosque, undergoing full renovation to enhance accessibility, reopening in 2027.
Mercure Makkah Shesha: A 1,078-key midscale hotel near the Mina pilgrimage site, also undergoing complete renovation, reopening in 2027.

Dr. Abdulrazzaq Bindawood, Chairman of BinDawood Investment, said, “Through Al Qimmah Hospitality, we are proud to shape a new chapter in Saudi Arabia’s hospitality journey. Our partnership with Accor demonstrates our commitment to long-term leadership in hospitality investment and creating destinations that will serve millions of visitors for generations.”

Duncan O’Rourke, CEO of Accor’s Premium, Midscale & Economy Division for MEA & APAC, added, “This partnership reflects a shared commitment to the Kingdom’s ambitious tourism agenda. The rollout of over 3,000 keys will strengthen Accor’s position as a catalyst for Saudi Arabia’s hospitality transformation, enhancing the experience for millions of visitors and supporting Vision 2030.”

Accor currently operates 46 hotels and branded residences across Saudi Arabia, representing more than 18,000 keys across 15 brands. The Group maintains the largest presence of any international operator in the religious markets of Makkah and Madinah, with 14 hotels and over 12,600 keys, supported by dedicated sales, marketing, and distribution clusters for religious travelers.