Accor hits 45,000 keys under extended stay portfolio
Accor’s growth in the lengthy stay sector has actually been bolstered by brand-new openings for its Novotel Living label, an expansion of midscale resort brand Novotel. Recent developments 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 prior 8 on Claymore Serviced Residences– in June 2022.
Other recent launches consist of Pullman Living Dongguan Forum in China, whilst Accor’s front runner “aparthotel” brand Adagio celebrated its 15th anniversary in 2023 with the introduction of 11 brand-new real estates all over 5 continents.
“With brand-new traveling routines holding and more consumers choosing much longer stays, Accor has actually continued to do what we do most effectively– lead the industry in which we have immersed origins, sturdy relationships and an effective existence– such as Europe, the Middle East and Asia Pacific,” states Jean-Jacques Morin, Accor sub CEO and premium, midscale and economy segment CEO.
He adds that Accor has an “unmatched” portfolio of extended stay companies to service any type of tourist type. Other organizations under Accor’s extensive stay portfolio include Mercure Living, Swissôtel Living and Mövenpick Living. It also supplies extended stay alternatives by means of brands such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. On top of that, it has 33,000 exclusive villas, condos, and branded houses run in leasing programs.
Global hospitality group Accor currently has 45,000 keys across more than 380 real estates and 14 brands under its extended stay profile, which includes serviced condos and exclusive rental real estates. In an Oct 24 news release, the team states it is now the global’s largest player outside of the US within this classification, supported by a high concentration of properties across Europe and Asia.
“The rise of pursuit for long-term stay residential properties is a global phenomenon, driven by a market shift amongst visitors that are taking much longer travels, combining company with leisure, and discovering locations more fully,” says Morin.
Accor says it has even more extended stay real properties in the pipeline, including new places for Novotel Living as well as a number of high-class serviced residence projects in Riyadh, like the 250-key Sofitel Serviced Residences Riyadh.