Accor hits 45,000 keys under extended stay portfolio
Accor’s growth in the long stay segment has been boosted by brand-new openings for its Novotel Living label, a broadening of midscale resort brand Novotel. Recent expansions for Novotel Living include 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.
Accor claims it has more extensive stay estates in the pipeline, consisting of all new places for Novotel Living as well as a number of luxury serviced apartment ventures in Riyadh, for example, the 250-key Sofitel Serviced Residences Riyadh.
Global hospitality group Accor presently has 45,000 keys throughout more than 380 properties and 14 brand names underneath its extensive stay profile, which includes serviced flats and nonpublic rental real estates. In an Oct 24 news release, the group claims it is now the global’s largest player outside of the US in this group, supported by a high compression of properties throughout Europe and Asia.
Some other current starts consist of Pullman Living Dongguan Forum in China, whilst Accor’s flagship “aparthotel” brand Adagio rejoiced in its 15th birthday in 2023 with the introduction of 11 new real estates across five continents.
He includes that Accor has an “incomparable” portfolio of extensive stay companies to service any traveller kind. More organizations under Accor’s extensive stay portfolio consist of Mercure Living, Swissôtel Living and Mövenpick Living. It additionally offers prolonged stay alternatives through business such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. On top of that, it has 33,000 exclusive villas, flats, and branded residences managed in rental programs.
“The escalation of interest for prolonged stay residential properties is an international event, pushed by a group change among tourists who are getting much longer visits, mixing company with leisure, and checking out destinations much more fully,” says Morin.
“With brand-new traveling habits holding and even more consumers seeking out longer stays, Accor has remained do what we do best– lead the industry where we have deep origins, solid relationships and a highly effective presence– including Europe, the Middle East and Asia Pacific,” says Jean-Jacques Morin, Accor sub CEO and premium, midscale and affordability section chief executive officer.