The Groups Moving on Syria
Global and regional hotel groups are examining Syria. Senior executives gave their plans to Reuters. The wire carried the interviews on 8 October from Dubai.
The draw is history, coastal destinations and Syrians who have long lived abroad.
“Tourists will always be there because this (Damascus) is the oldest city in the world,” said Mohamed Alabbar, founder and chairman of UAE-based Eagle Hills.
Eagle Hills Signs for Damascus and Latakia
Eagle Hills signed a framework deal with Syria on Monday 5 October. The agreement covers a 10 million square metre development in Damascus and a 4.3 million square metre project at coastal Latakia. The company disclosed no financial details. The signing took place at the People’s Palace in Damascus. The National reported that President Ahmed al-Sharaa attended.
Eagle Hills names the two schemes Damascus Heights and Latakia Yachts & Marina on its own Syria site.
Alabbar said Emaar could also take part in the two projects. Emaar is working on a separate Damascus development. Alabbar also chairs Emaar, the developer of Dubai’s Burj Khalifa.
UAE developer Arada plans its own entry. Its release announces a $7 billion joint venture with the Syrian Sovereign Fund for a mixed-use project in New Damascus, four million square metres and 11,000 homes.
Accor, Wyndham and Minor Hotels
Accor is in advanced negotiations for two projects in Syria. Duncan O’Rourke, the group’s chief executive for the Middle East, Africa and Asia-Pacific, confirmed the talks to Reuters.
Wyndham Hotels & Resorts is scouting Damascus and beach destinations. Dimitris Manikis, Wyndham’s president for Europe, the Middle East and Africa, said a signing is close.
“Very soon, I’m confident that we’re going to announce our first signing in Syria,” Manikis said.
Minor Hotels is weighing conversions in the old city. Amir Golbarg, the group’s chief operating officer for the Middle East and Africa, said some buildings could become boutique hotels. Others could be built from scratch.
“The history, the crossroads, for me it’s one of the countries that really has major potential,” Golbarg said. He described the existing stock in the same interview. “The challenge with the market, it’s been basically off the grid for many years. So the (hotel) inventory that’s existing is very tired.”
3.52 Million Arrivals in the First Half
The Syrian state news agency SANA reported the count and cited government data. Arrivals more than doubled year on year in the first half of 2026 to 3.52 million.
Syrian expatriates accounted for 2.13 million of the total. Arab countries supplied around 660,000. Other countries supplied about 720,000.
Flights and Card Payments Return Slowly
Qatar Airways and flydubai both operate services from Gulf hubs to Damascus. Etihad Airways said it would fly daily from 14 November 2026, up from four flights a week to seven.
Visa and Mastercard said they were launching operations in Syria. Electronic payments remain limited to certain cards that foreign banks issue, and those cards work at specific locations.
A $216 Billion Reconstruction Bill
The World Bank published its assessment on 21 October 2025. It put Syria’s reconstruction costs at $216 billion as a conservative best estimate. The total includes $75 billion for residential buildings, $59 billion for non-residential structures and $82 billion for infrastructure.
What Still Stands in the Way
Syria’s civil war ended in December 2024. Violence continues in bouts.
The United States rescinded Syria’s designation as a state sponsor of terrorism effective 24 August 2026. The rescission notice ran in the Federal Register on 31 August 2026. The State Department still advises US citizens against travel to Syria.
Communities in some suburbs have protested against mega-projects announced by the government. Traditional homes in the capital have operated as local boutique hotels for decades.