Accor hits 45,000 keys under extended stay portfolio
Accor’s growth in the lengthy stay segment has been boosted by new openings for its Novotel Living brand, a broadening of midscale hotel brand Novotel. Latest growths for Novotel Living consist of real estates in Bangkok, Saigon and Kazakhstan. In Singapore, the company opened up Novotel Living Singapore Orchard– a rebrand of the former 8 on Claymore Serviced Residences– in June 2022.
Some other recent launches consist of Pullman Living Dongguan Forum in China, while Accor’s flagship “aparthotel” label Adagio commemorated its 15th birthday in 2023 with the opening of 11 brand-new properties throughout five continents.
Global hospitality group Accor presently has 45,000 keys throughout greater than 380 properties and 14 brand names underneath its extended hold profile, that includes serviced flats and private leasing real estates. In an Oct 24 press release, the team says it is currently the world’s largest player beyond of the United States in this category, endorsed by a high compression of properties across Europe and Asia.
Accor states it has more extensive stay estates in the pipeline, including fresh locations for Novotel Living as well as several high-class serviced apartment ventures in Riyadh, like the 250-key Sofitel Serviced Residences Riyadh.
He adds that Accor has an “unmatched” portfolio of prolonged stay labels to service any traveller type. More brands under Accor’s extended stay portfolio consist of Mercure Living, Swissôtel Living and Mövenpick Living. It even supplies extended remain options through brands such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. In addition, it has 33,000 special villas, flats, and branded residences managed in rental programmes.
“With brand-new traveling practices taking hold and more individuals choosing longer stays, Accor has actually remained do what we do most effectively– lead the industry in which we have deep roots, strong relationships and an effective existence– like Europe, the Middle East and Asia Pacific,” states Jean-Jacques Morin, Accor sub CEO and premium, midscale and economy section chief executive officer.
“The rise of pursuit for extended stay real estates is a worldwide phenomenon, pushed by a market change among tourists who are getting longer travels, blending organization with leisure, and exploring locations a lot more completely,” claims Morin.