Accor hits 45,000 keys under extended stay portfolio
International hospitality group Accor presently has 45,000 keys throughout greater than 380 estates and 14 brands within its prolonged hold profile, includes serviced flats and exclusive rental real estates. In an Oct 24 announcement, the team states it is now the world’s largest player beyond of the United States within this category, supported by a higher concentration of properties throughout Europe and Asia.
“The rise of interest for prolonged stay real estates is an international event, driven by a market shift amongst travellers who are making much longer travels, mixing company with leisure, and exploring destinations extra completely,” claims Morin.
Many other current starts consist of Pullman Living Dongguan Forum in China, whilst Accor’s front runner “aparthotel” company Adagio commemorated its 15th anniversary in 2023 with the opening of 11 brand-new properties throughout 5 continents.
Accor’s growth in the extended stay sector has been boosted by new openings for its Novotel Living label, a broadening of midscale resort brand Novotel. Latest developments for Novotel Living include properties in Bangkok, Saigon and Kazakhstan. In Singapore, the company opened Novotel Living Singapore Orchard– a rebrand of the past 8 on Claymore Serviced Residences– in June 2022.
Accor claims it has more extensive stay estates in the pipeline, including all new places for Novotel Living as well as a number of luxury serviced condominium ventures in Riyadh, such as the 250-key Sofitel Serviced Residences Riyadh.
He adds that Accor has an “unmatched” portfolio of extensive stay labels to service any type of traveller type. More companies under Accor’s extended stay profile consist of Mercure Living, Swissôtel Living and Mövenpick Living. It additionally supplies prolonged remain alternatives through brands such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. In addition, it has 33,000 special villas, condos, and branded homes run in leasing programmes.
“With new touring practices holding and even more consumers looking for much longer stays, Accor has actually remained do what we do best– lead the industry where we have deep roots, solid connections and an effective existence– such as Europe, the Middle East and Asia Pacific,” says Jean-Jacques Morin, Accor sub CEO and premium, midscale and economy division CEO.
