Accor hits 45,000 keys under extended stay portfolio
Global hospitality group Accor presently has 45,000 keys across greater than 380 properties and 14 brand names under its prolonged hold profile, includes serviced apartments and private leasing properties. In an Oct 24 press release, the team claims it is now the world’s biggest player outside of the United States in this group, backed by a higher compression of real estates across Europe and Asia.
Accor’s progression in the long-term stay sector has been bolstered by new openings for its Novotel Living brand, a broadening of midscale hotel brand Novotel. More recent developments for Novotel Living include properties in Bangkok, Saigon and Kazakhstan. In Singapore, the brand opened up Novotel Living Singapore Orchard– a rebrand of the past 8 on Claymore Serviced Residences– in June 2022.
“With new touring habits holding and even more consumers seeking out longer stays, Accor has actually remained to do what we do most ideal– lead the markets where we have deep roots, strong relationships and a highly effective existence– including Europe, the Middle East and Asia Pacific,” claims Jean-Jacques Morin, Accor deputy chief executive officer and premium, midscale and economy division chief executive officer.
Accor states it has more extensive stay estates in the pipeline, including new locations for Novotel Living as well as several high-end serviced condominium assignments in Riyadh, like the 250-key Sofitel Serviced Residences Riyadh.
Other recent openings include Pullman Living Dongguan Forum in China, whilst Accor’s flagship “aparthotel” label Adagio celebrated its 15th birthday in 2023 with the introduction of 11 new real properties throughout 5 continents.
He adds that Accor has an “incomparable” profile of prolonged stay companies to service any kind of visitor kind. Different brands under Accor’s lengthy stay profile include Mercure Living, Swissôtel Living and Mövenpick Living. It also supplies extensive remain options by means of business such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. In addition, it has 33,000 private villas, flats, and branded houses managed in leasing programs.
“The rise of demand for extended stay properties is a global phenomenon, pushed by a market change among travellers who are making much longer travels, mixing business with recreation, and exploring spots extra fully,” states Morin.