Tag Archives: ICD

Accor,  Valor Hospitality Partners and ICD (Investment Corporation 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 …

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