Accor hits 45,000 keys under extended stay portfolio
Accor’s growth in the lengthy stay section has actually been bolstered by new openings for its Novotel Living label, an extension of midscale resort brand Novotel. Recent developments for Novotel Living feature properties in Bangkok, Saigon and Kazakhstan. In Singapore, the company opened Novotel Living Singapore Orchard– a rebrand of the former 8 on Claymore Serviced Residences– in June 2022.
Many other recent starts consist of Pullman Living Dongguan Forum in China, although Accor’s flagship “aparthotel” label Adagio commemorated its 15th anniversary in 2023 with the launching of 11 new real properties around 5 continents.
“The rise of demand for extended stay residential properties is an international phenomenon, steered by a demographic change among visitors who are getting much longer trips, blending company with recreation, and discovering destinations much more completely,” states Morin.
Global hospitality group Accor presently has 45,000 keys throughout more than 380 properties and 14 brand names under its prolonged stay portfolio, includes serviced flats and private leasing real estates. In an Oct 24 press release, the group states it is now the world’s leading player outside of the US here in this classification, endorsed by a higher concentration of real estates throughout Europe and Asia.
He adds that Accor has an “unrivaled” portfolio of prolonged stay labels to service any visitor kind. More companies under Accor’s lengthy stay profile include Mercure Living, Swissôtel Living and Mövenpick Living. It even offers extended keep options through business such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. In addition, it has 33,000 exclusive villas, apartments, and branded residences managed in leasing programmes.
Accor says it has more prolonged stay real properties in the pipeline, consisting of all new areas for Novotel Living as well as numerous luxury serviced condominium ventures in Riyadh, such as the 250-key Sofitel Serviced Residences Riyadh.
“With new touring habits holding and even more individuals seeking much longer stays, Accor has actually remained do what we do most effectively– lead the industry in which we have deep roots, strong partnerships and a powerful existence– like Europe, the Middle East and Asia Pacific,” claims Jean-Jacques Morin, Accor deputy CEO and premium, midscale and economy division chief executive officer.