Accor hits 45,000 keys under extended stay portfolio
International hospitality group Accor currently has 45,000 keys throughout greater than 380 properties and 14 brands under its extended hold portfolio, that includes serviced apartments and nonpublic leasing real estates. In an Oct 24 news release, the team states it is now the global’s biggest player beyond of the US within this category, backed by a high concentration of real estates across Europe and Asia.
“With brand-new traveling practices taking hold and more people seeking out longer stays, Accor has actually continued to do what we do most ideal– lead the markets where we have immersed origins, strong partnerships and a highly effective existence– including Europe, the Middle East and Asia Pacific,” claims Jean-Jacques Morin, Accor deputy chief executive officer and premium, midscale and affordability section CEO.
He adds that Accor has an “unmatched” portfolio of extensive stay labels to service any kind of traveller kind. Other companies under Accor’s extensive stay profile include Mercure Living, Swissôtel Living and Mövenpick Living. It additionally offers extended remain choices via brands such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. Furthermore, it has 33,000 private villas, flats, and branded homes operated in rental programmes.
Accor’s progress in the extended stay sector has actually been reinforced by new openings for its Novotel Living brand, an expansion of midscale hotel brand Novotel. Recent growths for Novotel Living include properties 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.
Accor claims it has even more extended stay estates in the pipeline, consisting of all new areas for Novotel Living as well as numerous high-end serviced flat ventures in Riyadh, such as the 250-key Sofitel Serviced Residences Riyadh.
Some other recent starts include Pullman Living Dongguan Forum in China, whilst Accor’s flagship “aparthotel” brand Adagio celebrated its 15th birthday in 2023 with the introduction of 11 new real properties around 5 continents.
“The rise of interest for prolonged stay real estates is a global occurrence, steered by a demographic shift amongst travellers who are taking longer travels, mixing business with recreation, and checking out destinations much more completely,” says Morin.