Jabal Omar inks 15-year deals with Accor, Rotana to manage 1.8k hotel keys in Makkah

HOSPITALITY-

Jabal Omar Development Company agreed to operate up to 1.8k keys across seven hotel towers within its Phase 4 development in Makkah under 15-year hotel management agreements sealed with Rotana Hotels and Resorts and Accor Group, it said in a Tadawul disclosure (pdf). With over 4k jobs provided, the move will contribute to increasing the capacity of Hajj and Umrah performers.

The details: Under the agreements, Jabal Omar will manage and operate three hotels, spanning 655 keys under the brand Rotana Jabal Omar, with the expectation to go live later this quarter. Meanwhile, the company will run four hotels (over 1.1k keys) under Accor’s brand Sofitel Jabal, with operations set to begin in 4Q 2026.

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CAPITAL MARKETS-

Morgan Stanley starts Batic market making, ends Gas Arabia: The Saudi Exchange gave the green light to Morgan Stanley Saudi Arabia to conduct market-making activities on Batic Investment and Logistics, effective yesterday. It also approved the bank’s request to end these activities on Gas Arabian Services, according to two separate Tadawul disclosures.