Accor hits 45,000 keys under extended stay portfolio
Accor’s progression in the long stay segment has actually been strengthened by new openings for its Novotel Living label, an expansion of midscale resort brand Novotel. More recent growths for Novotel Living feature real estates 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.
“With brand-new touring habits holding and even more people seeking much longer stays, Accor has continued to do what we do most effectively– lead the markets in which we have immersed roots, solid partnerships and an effective presence– like Europe, the Middle East and Asia Pacific,” says Jean-Jacques Morin, Accor deputy CEO and premium, midscale and economy division CEO.
Global hospitality group Accor presently has 45,000 keys throughout more than 380 estates and 14 brand names underneath its extensive stay portfolio, which includes serviced flats and exclusive rental properties. In an Oct 24 news release, the team states it is now the global’s leading player outside of the United States in this category, backed by a higher concentration of properties throughout Europe and Asia.
Accor claims it has more extensive stay properties in the pipeline, consisting of new areas for Novotel Living as well as a number of high-end serviced residence ventures in Riyadh, like the 250-key Sofitel Serviced Residences Riyadh.
Other current starts consist of Pullman Living Dongguan Forum in China, while Accor’s front runner “aparthotel” brand Adagio rejoiced in its 15th anniversary in 2023 with the opening of 11 brand-new real estates across five continents.
He includes that Accor has an “incomparable” portfolio of extensive stay labels to service any tourist type. Different companies under Accor’s extensive stay portfolio consist of Mercure Living, Swissôtel Living and Mövenpick Living. It additionally provides extended keep alternatives by means of business such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. In addition, it has 33,000 special villas, condos, and branded houses managed in rental programs.
“The rise of pursuit for long-term stay properties is a worldwide occurrence, pushed by a group shift amongst travellers who are getting much longer trips, combining organization with leisure, and discovering destinations extra fully,” states Morin.