Accor, ICD and Valor Hospitality strengthen partnership with six-hotel cluster in Deira waterfront
Introducing a 999-Key Cluster under Novotel, ibis Styles, Mercure and Adagio Brands, this strategic expansion integrates three existing properties with three newly Accor branded hotels to be managed by Valor Hospitality
DUBAI, UNITED ARAB EMIRATES - Accor, a world-leading hospitality group, Valor Hospitality Partners, a global pioneer in hotel management, and ICD (Investment Corporation of Dubai), the principal investment arm of the Government of Dubai, have strengthened their partnership with the launch of a six-hotel cluster in Dubai Deira Waterfront as part of the Deira Enrichment Program.
Under the new agreement, the six-hotel cluster with 999 keys will be managed by Valor Hospitality Partners. This expansion integrates three well-established Accor properties under the ibis Styles, Aparthotel Adagio, and Mercure brands, along with three new properties that will be branded as Novotel, ibis Styles, and Mercure in Dubai.
The cluster officially opened 1 April 2025, further solidifying Accor's position in Dubai's hospitality sector, addressing the growing demand for quality midscale and economy accommodations, expanding Valor's current management portfolio in the UAE, and further cementing a commitment to operational excellence and financial efficiency.
With a diversified portfolio, this expansion caters to distinct traveler needs, with Adagio meeting the demand of extended stays, Mercure delivering locally inspired experiences, ibis Styles providing design-driven affordability, and Novotel seamlessly blending business and leisure.
'Focusing on strategic, sustainable and exponential growth is the driving force of our partnership with ICD and its wholly owned property developer Ithra Dubai,' said Julien Bergue, Co-Founder & Managing Partner - Middle East, AMEA at Valor Hospitality Partners. 'This intensifies our firm commitment to the UAE and Dubai Hospitality Sectors, both well known for their innovation and excellence. The project also reflects our belief in our new slogan, 'A Whole World of Local,' which underscores our dedication to being closely connected to our partners and communities in the UAE, the Middle East, and wherever we operate.'
For Accor, the expansion aligns with its long-term vision for the Middle East, Africa, and Asia Pacific. 'Strengthening our collaboration with ICD reaffirms our commitment to sustainable growth with trusted partners. By integrating these properties under the Accor umbrella, we are reinforcing our alignment with the UAE's vision to enhance tourism and hospitality infrastructure in key districts. This expansion also reflects the increasing demand for quality midscale and economy accommodations in Dubai, catering to a diverse range of travelers.' said Paul Stevens, Accor's Chief Operating Officer, Premium, Midscale & Economy brands for Middle East and Africa.
The partnership between Valor Hospitality Partners, ICD, and Accor exemplifies the synergy of global expertise and deep local market insights. By optimizing financial performance and driving sustainable growth, this collaboration sets new benchmarks for Dubai's hospitality industry, ensuring each property thrives in its unique context.
Aligned with the UAE's sustainability and economic diversification goals, Accor and Valor Hospitality Partners integrates eco-conscious practices and community development throughout its operations. From resource conservation initiatives to skill development, Accor and Valor remain dedicated to fostering local talent and supporting national employment objectives.
This strategic agreement marks a significant milestone for all three partners, strengthening their collaboration in one of Dubai's most dynamic districts. As demand surges for midscale and economy accommodations, the portfolio is poised to serve a growing segment of travelers seeking quality stays at competitive pricing.
Accor operates over 290 properties in the Middle East across all its brands, with plans to expand further, adding +130 new addresses by 2028.
From acquisition advisory to innovative food and beverage concepts, Valor provides comprehensive solutions that bridge the gap between tradition and modernity. Its holistic approach spans hotel management, branded residences, asset management, branding, and luxury lifestyle services, including golf, spa, and fitness management.
ABOUT ACCOR
Accor is a world-leading hospitality group offering stays and experiences across more than 110 countries with over 5,600 hotels and resorts, 10,000 bars & restaurants, 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, the booking platform and loyalty program embodies the Accor promise during and beyond the hotel stay and 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. For more information, please visit group.accor.com or follow us on X, Facebook, LinkedIn, Instagram and TikTok.
About ICD (Investment Corporation of Dubai)
ICD (Investment Corporation of Dubai) is the principal investment arm of the Government of Dubai. It was established in May 2006 by Decree (11) of 2006 and mandated with the consolidation and management of the Government of Dubai's portfolio of commercial companies and investments. ICD also provides financial and strategic oversight to portfolio companies to maximise value for the long-term benefit of the Emirate of Dubai.
ICD's portfolio comprises some of Dubai's most recognised companies and represents a cross-section of vital economic sectors that the Government of Dubai has deemed strategic for the continued development and growth of the Emirate of Dubai. The sectors include financial services, transportation, energy and industry, real estate and construction, hospitality and leisure, retail, and other holdings. In addition to supporting the development and growth of our existing portfolio companies in Dubai, our international investment focus aims to achieve diversification through fund commitments and co-investment across asset classes.
About Valor Hospitality Partners
Valor Hospitality Partners is a globally recognised and fully Integrated Hotel Management Operation Services, headquartered in Atlanta, GA, USA. With 90+ hotels in its portfolio across The Americas, Europe, Middle East, Africa, Valor is now rapidly expanding further within the Middle East, Central + East Asia regions. Working closely with owners and international hotel brands' partners, Valor creates value through shared operating platforms within key markets, cutting edge value creation, market leading commercial performance and support services such as site selection, brand selection, conceptual design, asset management, procurement, technical services and more. For more information, visit valorhospitality.com or connect with Valor on Facebook and LinkedIn.
Global Managed Hotels & Resorts: Click below to learn more about our properties' portfolio
MIDDLE EAST, AFRICA & ASIA
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