Accor hits 45,000 keys under extended stay portfolio
Accor’s growth in the long-term stay segment has actually been reinforced by brand-new openings for its Novotel Living brand, an extension of midscale resort brand Novotel. Latest developments for Novotel Living include real estates in Bangkok, Saigon and Kazakhstan. In Singapore, the brand opened Novotel Living Singapore Orchard– a rebrand of the past 8 on Claymore Serviced Residences– in June 2022.
Some other current launches consist of Pullman Living Dongguan Forum in China, whilst Accor’s front runner “aparthotel” company Adagio commemorated its 15th anniversary in 2023 with the launching of 11 new real properties across five continents.
“The acceleration of interest for extended stay residential properties is a global occurrence, driven by a group change amongst tourists who are taking much longer trips, blending business with recreation, and discovering locations a lot more completely,” claims Morin.
He adds that Accor has an “unmatched” profile of prolonged stay companies to service any traveller type. Other companies under Accor’s lengthy stay profile include Mercure Living, Swissôtel Living and Mövenpick Living. It additionally offers prolonged keep options through business such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. Furthermore, it has 33,000 private villas, flats, and branded houses managed in leasing programmes.
International hospitality group Accor presently has 45,000 keys throughout more than 380 estates and 14 brand names under its prolonged hold portfolio, that includes serviced apartments and exclusive leasing properties. In an Oct 24 news release, the team says it is now the global’s largest player outside of the US here in this classification, backed by a higher compression of real estates across Europe and Asia.
Accor states it has more extensive stay properties in the pipeline, including fresh locations for Novotel Living as well as several high-class serviced residence ventures in Riyadh, including the 250-key Sofitel Serviced Residences Riyadh.
“With new traveling practices taking hold and even more people seeking out much longer stays, Accor has actually remained to do what we do most effectively– lead the industry where we have deep origins, solid relationships and a powerful presence– like Europe, the Middle East and Asia Pacific,” says Jean-Jacques Morin, Accor deputy CEO and premium, midscale and affordability division chief executive officer.