Saudi Arabia has 17 hotels in the Michelin Guide's Key selection — 1 Three Keys, 3 Two Keys and 13 One Key — across 5 places, led by Jeddah with 4. 10 can be booked with points: 7 through Marriott Bonvoy, 1 through Hilton Honors, 1 through IHG One Rewards and 1 through ALL – Accor Live Limitless. The rest are cash-only independents, listed so the map is complete.

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Median points per night and cents-per-point value from AwardClaw's award tracking. Value is the cash rate divided by the points price, so higher is better; green means the redemption beats the program's usual value by a wide margin.
| Hotel | Keys | Program | Points / night | Value |
|---|---|---|---|---|
| Six Senses Southern Dunes, The Red Sea Umluj, Saudi Arabia | IHG · Six Senses | 208,000 | 0.6¢/pt |
5 places in Saudi Arabia have at least one Key hotel. Cities with three or more get their own page.
The Luxury Collection 2 · EDITION 2 · St. Regis 2
~0.7¢ per point · Amex Membership Rewards, Chase Ultimate Rewards and Bilt all transfer to Bonvoy at 1:1, so Marriott points are the easiest to top up in a hurry.
Waldorf Astoria 1
~0.5¢ per point · Amex Membership Rewards transfer to Hilton at 1:2, with 1:2.
Six Senses 1
~0.6¢ per point · Chase Ultimate Rewards and Bilt transfer to IHG at 1:1.
Banyan Tree 1
fixed at 2¢ per point · Capital One and Citi ThankYou points transfer to ALL at 2:1.
17: 1 Three Keys, 3 Two Keys and 13 One Key. They are spread over 5 places; Jeddah has the most with 4.
10 of the 17: Six Senses Southern Dunes, The Red Sea, Nujuma, a Ritz-Carlton Reserve, Assila, a Luxury Collection Hotel, Jeddah, Bab Samhan, a Luxury Collection Hotel, Diriyah, Banyan Tree AlUla, The Jeddah EDITION, The Red Sea EDITION and The St. Regis Red Sea Resort and more. By program: 7 through Marriott Bonvoy, 1 through Hilton Honors, 1 through IHG One Rewards and 1 through ALL – Accor Live Limitless.
Three Keys is the highest rating held in Saudi Arabia, by Desert Rock Resort. None of them take points.
Six Senses Southern Dunes, The Red Sea in Umluj, at a median of about 208,000 IHG points a night — 0.6¢ per point against the cash rate.
Hotel selection and Key ratings from the MICHELIN Guide hotel selection; points prices and value are AwardClaw's own observations of each program's award pricing and move with dynamic pricing. Program links reflect the loyalty program a property belongs to at the time of writing — partner portfolios (Mr & Mrs Smith, Small Luxury Hotels, Design Hotels) change, so confirm on the program's site before transferring points. AwardClaw is not affiliated with Michelin or any hotel group. MICHELIN is a trademark of its owner.