Accor hits 45,000 keys under extended stay portfolio
Global hospitality group Accor now has 45,000 keys throughout greater than 380 estates and 14 brand names under its extended hold portfolio, includes serviced flats and exclusive leasing properties. In an Oct 24 press release, the group states it is now the world’s largest player outside of the US in this category, supported by a high concentration of real estates throughout Europe and Asia.
Many other recent starts consist of Pullman Living Dongguan Forum in China, although Accor’s front runner “aparthotel” brand Adagio rejoiced in its 15th birthday in 2023 with the launching of 11 new properties throughout 5 continents.
Accor’s growth in the lengthy stay segment has been strengthened by new openings for its Novotel Living label, a broadening of midscale resort brand Novotel. More recent expansions for Novotel Living feature real estates 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.
Accor claims it has even more extended stay estates in the pipeline, consisting of new areas for Novotel Living as well as numerous high-class serviced residence assignments in Riyadh, like the 250-key Sofitel Serviced Residences Riyadh.
“The rise of pursuit for long-term stay residential properties is a worldwide event, steered by a group change amongst tourists that are getting longer visits, blending organization with recreation, and discovering locations more fully,” states Morin.
“With brand-new travel routines holding and more people seeking out much longer stays, Accor has remained to do what we do best– lead the industry in which we have immersed origins, sturdy connections and a highly effective visibility– such as Europe, the Middle East and Asia Pacific,” states Jean-Jacques Morin, Accor deputy chief executive officer and premium, midscale and affordability segment chief executive officer.
He adds that Accor has an “incomparable” portfolio of extended stay brands to service any type of traveller kind. Different organizations under Accor’s lengthy stay profile include Mercure Living, Swissôtel Living and Mövenpick Living. It additionally provides prolonged remain alternatives by means of companies such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. Furthermore, it has 33,000 exclusive villas, flats, and branded residences operated in leasing programs.