Industry Update
Press Release12 August 2020

Royal Commission for AlUla unveils expansion with Accor in partnership with the Banyan Tree brand

In partnership with Accor and under the luxury resort Banyan Tree, the Ashar luxury camp will expand, increasing the number of keys to eighty-two.

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The Royal Commission for AlUla (RCU) has announced a partnership agreement with Accor as part of its strategy to develop AlUla as a tourism destination for nature, culture and heritage.

The agreement will see Accor operate an expanded Ashar Resort under the Banyan Tree brand. There will be 47 new units added, which will bring the resort's total number up to 82 high-end villas, along with a luxury spa and several gourmet restaurants. This will be guided by a sensitive design that allows each villa to blend discreetly into the striking natural scenery of the Ashar valley, located 15km from the Kingdom's first UNESCO World Heritage Site, Hegra.

The partnership with the leading global hospitality group has been signed ahead of AlUla's official opening to the world as a year-round destination in October 2020.

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The announcement also underscores AlUla's investment potential, as Saudi Arabia continues its economic diversification as part of its Vision 2030 programme. By 2035, RCU expects to host 2 million visitors annually, creating 38,000 new jobs.

Ashar valley is the location of the Maraya Hall, a multi-purpose exhibition, conference and entertainment venue, the largest mirrored structure in the world, which will also drive local economic diversification by hosting cultural events, business gatherings and conferences. These have included the Hegra Conference for Nobel Laureates and global figures such as Andrea Bocelli, Majida Al Roumi and Lionel Richie.

Commenting on the agreements, the CEO of the Royal Commission for AlUla, Amr AlMadani, said: "This new partnership demonstrates how AlUla's unique appeal as a cultural, heritage and nature destination fits with Accor's Banyan Tree brand, which is synonymous with authentically unique experiences. We're working with the world's best developers and hotel operators to deliver projects that complement our cultural oasis, as well as benefitting our local community."

"The partnership agreement with Accor is part of a major series of capital projects and multiple investments made by RCU into fifteen plans in AlUla, many of which will be announced in the coming months. This is a clear sign of our confidence in the future strength of the hospitality sector in Saudi Arabia."

Sebastien Bazin, Chairman and CEO of Accor said: "In line with our commitment to grow Accor's unique portfolio in Saudi Arabia, and as one of the first global hospitality groups to set foot in in the Kingdom, we are extremely proud to take part in the development of the historic county of AlUla, thus celebrating the Kingdom's vast heritage and culture. We are very excited to be working on bringing our partner brand Banyan Tree's unique sanctuary offering to the Ashar Resort."

Commenting on the agreement, Bander M. Alharbi, Head of Hotels and Resorts at the Royal Commission for AlUla, said: "The Ashar Resort forms part of our strategy to create an immersive boutique destination that offers transformative experiences around the year and sets the standard for authentic hospitality."

Global partnerships are a central component of RCU's approach to driving economic growth through sustainable development in AlUla. The Accor agreement accents the region's robust relationship with France's leading brand. Last month saw the two-year anniversary of AFALULA, the French Agency for AlUla Development, which has launched more than 51 joint projects since its foundation.

RCU's sustainable development strategy is guided by 12 strategic principles drawn from its Framework Plan and Charter that will shape the integration of luxury tourism while safeguarding the natural landscape and putting the local community at the centre of AlUla's development.

Recent successes alongside the community include the Hammayah, a community advocacy and engagement initiative which will provide 2,500 employment opportunities for the people of the AlUla County, and Rawi programmes, which have seen hundreds of local residents become guides and storytellers for visitors. This is complemented by initiatives cultivating the human capital in AlUla such as a scholarship programme which has provided more than 500 local students with the opportunity to study courses relevant to AlUla's development at leading institutions around the world.

The Accor agreement further advances the vision of AlUla which was launched by the His Royal Highness the Crown Prince Mohammad bin Salman AlSaud, Chairman of the Board of Directors of the Royal Commission for AlUla in 2019. The signing of the agreement was overseen by His Highness Prince Bader bin Farhan Al-Saud, Governor of the Royal Commission for AlUla.

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Banyan Tree

The Banyan Tree Group is a leading international operator and developer of premium resorts, hotels, residences and spas, with a collection of award-winning brands. Banyan Tree offers a Sanctuary to rejuvenate the mind, body and soul in awe-inspiring locations around the globe.
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About Accor

Accor is a world leading hospitality group consisting of more than 5,200 properties and 10,000 food and beverage venues throughout 110 countries. The group has one of the industry"s most diverse and fully-integrated hospitality ecosystems encompassing more than 40 luxury, premium, midscale and economy hotel brands, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor"s unmatched position in lifestyle hospitality – one of the fastest growing categories in the industry – is led by Ennismore, a creative hospitality company with a global portfolio of entrepreneurial and founder-built brands with purpose at their heart. Accor boasts an unrivalled portfolio of distinctive brands and approximately 260,000 team members worldwide. 68 million members benefit from the company"s comprehensive loyalty program – ALL - 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 visit group.accor.com, or follow Accor on Twitter, Facebook, LinkedIn, and Instagram.

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