Accor hits 45,000 keys under extended stay portfolio
Accor claims it has even more extended stay properties in the pipeline, consisting of fresh areas for Novotel Living as well as several high-end serviced residence projects in Riyadh, like the 250-key Sofitel Serviced Residences Riyadh.
Other recent starts consist of Pullman Living Dongguan Forum in China, while Accor’s flagship “aparthotel” label Adagio rejoiced in its 15th birthday in 2023 with the introduction of 11 brand-new real properties around five continents.
“With brand-new travel routines taking hold and more people seeking longer stays, Accor has remained to do what we do most ideal– lead the markets in which we have deep origins, solid relationships and a powerful visibility– including Europe, the Middle East and Asia Pacific,” says Jean-Jacques Morin, Accor sub chief executive officer and premium, midscale and affordability division CEO.
Global hospitality group Accor now has 45,000 keys throughout greater than 380 properties and 14 brands within its prolonged stay profile, that includes serviced apartments and private rental real estates. In an Oct 24 news release, the team claims it is now the world’s largest player outside of the United States here in this category, endorsed by a high compression of real estates throughout Europe and Asia.
He adds that Accor has an “unmatched” profile of extensive stay companies to service any type of tourist type. Other organizations under Accor’s extended stay portfolio include Mercure Living, Swissôtel Living and Mövenpick Living. It even provides prolonged stay alternatives via companies such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. On top of that, it has 33,000 special villas, condos, and branded houses operated in rental programmes.
“The rise of demand for extended stay residential properties is a global occurrence, steered by a market change amongst visitors that are making longer trips, blending business with recreation, and checking out destinations a lot more completely,” says Morin.
Accor’s progress in the extended stay section has been reinforced by brand-new openings for its Novotel Living brand, an extension of midscale resort brand Novotel. Latest expansions for Novotel Living feature properties 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.