The group will continue to manage one of its flagship properties in the holy city of Makkah
Accor, a world-leading hospitality group with over 400 hotels across India, the Middle East, Africa and Turkey, confirms it will continue operating ZamZam Pullman Makkah. Renewal with Accor was confirmed as a result of an exhaustive tender process amongst top hospitality companies.
A global leader in real estate and hospitality advisory services, JLL HotelsandHospitality, managed the highly competitive process.
The group renews its management agreement with Munshaat Real Estate Projects Co, a Kuwaiti company, listed in the Kuwait stock exchange market and established in 2003. Over the last 20 years, the company has been dedicated to investing into the hospitality sector in the Holy Cities of Saudi Arabia, with notable real-estate including the ZamZam Pullman Makkah and ZamZam Pullman Madinah to name a few.
"ZamZam Pullman Makkah plays a vital role for our business," says Eisa Al Eisa, Acting CEO of Munshaat Real Estate Projects Co, "our leadership recognises that renewing our partnership with Accor will further advance our business, while serving the expected growth in religious tourism."
Opened in 2006, the hotel is located in the most sought-after Abraj Al Bait building in Makkah, arguably one of the most prominent developments in Saudi Arabia hosting the third tallest tower in the world. The hotel features over 1,300 rooms, out of which the standard rooms offer 37 square meters in size, while its suite inventory ranges from 45 148 square meters in size, both featuring Kaaba, Haram and City views. In addition to the guest rooms, the property features 7 food and beverage outlets, including 4 international restaurants, 1 Arabic restaurant, 2 lounges, retail shops and a business centre.
As part of the renewal agreement, the property will undergo an extensive renovation plan with a 125 Million Riyal investment, which will be completed by 2025.
"We are very pleased to announce that ZamZam Pullman Makkah will continue to be operated under our portfolio"says Mark Willis, CEO of Africa India, Middle East, AfricaandTurkey."The brand has already made its mark in Holy City and pilgrim's travellers enjoy its prime location. We are confident that this will not only increase the Pullman brand awareness but enhance our valuable partnership with Munshaat Real Estate Projects Co. while consolidating the group's position as leading hospitality group in Makkah and in the region overall."
Accor currently operates 39 properties (14,301 keys) in the Kingdom of Saudi Arabia, 8 of which are located in Makkah, with another 37 properties (10,115 keys) in the pipeline throughout the Kingdom.
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About Accor
Accoris a world leading hospitality Group consisting of more than 5,100 properties and 10,000 food and beverage venues throughout 110 countries. The Group has one of the industrys most diverse and fully-integrated hospitality ecosystems encompassing luxury and premium brands, midscale and economy offerings, unique Lifestyle concepts, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor also boasts an unrivalled portfolio of distinctive brands and approximately 260,000 team members worldwide. Over 68 million members benefit from the companys comprehensive loyalty programALL - Accor Live Limitless- a daily Lifestyle companion that provides access to a wide variety of rewards, services and experiences. Through its Planet 21 Acting Here, Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the group is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity and inclusivity. Founded in 1967, Accor SA is headquartered in France and publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information visitgroup.accor.comor follow Accor onTwitter,Facebook,LinkedInandInstagram.
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About Munshaat
Munshaat Real Estate Projects Company K.S.C. (Closed) is a Kuwaiti shareholding company established in Kuwait on 8 April 2003 and is listed on the Kuwait Stock Exchange, on 7 Nov. 2007 with a current paid up capital of KD 32.2 Million, divided into 322 Million shares. Munshaat activities mainly focus on the local and international Real Estate industry through a professional and specialized manner targeting lucrative and non-traditional markets and employing the best investment tools which comply with the Islamic essential, in addition contributing to the investment projects through operation, management, construction, and B.O.T.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com
Across the Middle East and Africa (MEA) JLL is a leading player in the real estate and hospitality services markets. The firm has worked in 35 countries across the region and employs over 1050 internationally qualified professionals across its offices in Dubai, Abu Dhabi, Riyadh, Jeddah, Al Khobar, Cairo, Casablanca and Johannesburg www.jll-mena.com
Atithi Jaiswal
Mumbai, India