Accor hits 45,000 keys under extended stay portfolio
Global hospitality group Accor now has 45,000 keys throughout more than 380 real estates and 14 brand names within its prolonged stay portfolio, includes serviced apartments and nonpublic rental properties. In an Oct 24 news release, the group says it is now the global’s largest player beyond of the US in this category, supported by a higher compression of real estates across Europe and Asia.
“With new touring behaviors holding and even more people seeking longer stays, Accor has remained do what we do most ideal– lead the industry in which we have deep origins, solid connections and a powerful visibility– such as Europe, the Middle East and Asia Pacific,” claims Jean-Jacques Morin, Accor sub CEO and premium, midscale and economy segment chief executive officer.
He adds that Accor has an “incomparable” portfolio of extensive stay companies to service any type of traveller type. Other brands under Accor’s lengthy stay portfolio include Mercure Living, Swissôtel Living and Mövenpick Living. It even offers extended remain choices through companies such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. In addition, it has 33,000 special villas, apartments, and branded residences run in leasing programs.
Many other recent launches consist of Pullman Living Dongguan Forum in China, although Accor’s front runner “aparthotel” brand Adagio celebrated its 15th anniversary in 2023 with the launching of 11 new real properties throughout five continents.
Accor’s progression in the lengthy stay sector has been bolstered by brand-new openings for its Novotel Living label, an expansion of midscale resort brand Novotel. Recent expansions for Novotel Living consist of properties in Bangkok, Saigon and Kazakhstan. In Singapore, the company opened Novotel Living Singapore Orchard– a rebrand of the previous 8 on Claymore Serviced Residences– in June 2022.
Accor claims it has more extensive stay estates in the pipeline, including all new locations for Novotel Living as well as a number of high-end serviced condominium ventures in Riyadh, for example, the 250-key Sofitel Serviced Residences Riyadh.
“The acceleration of demand for extended stay real estates is a global event, driven by a group change among travellers that are taking much longer visits, combining organization with recreation, and checking out places a lot more fully,” states Morin.