Accor hits 45,000 keys under extended stay portfolio
Accor’s progression in the long-term stay segment has been bolstered by new openings for its Novotel Living brand, a broadening of midscale hotel brand Novotel. Recent developments 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 previous 8 on Claymore Serviced Residences– in June 2022.
“The escalation of pursuit for extended stay residential properties is a worldwide phenomenon, pushed by a demographic shift amongst tourists who are getting much longer travels, blending business with recreation, and checking out places more completely,” states Morin.
“With brand-new travel practices holding and even more individuals seeking much longer stays, Accor has actually continued to do what we do best– lead the markets in which we have deep roots, sturdy connections and a highly effective existence– like Europe, the Middle East and Asia Pacific,” claims Jean-Jacques Morin, Accor deputy CEO and premium, midscale and economy division chief executive officer.
He adds that Accor has an “incomparable” profile of extended stay companies to service any visitor type. More organizations under Accor’s lengthy stay profile include Mercure Living, Swissôtel Living and Mövenpick Living. It additionally provides prolonged stay options via companies such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. In addition, it has 33,000 special villas, condos, and branded homes run in rental programs.
International hospitality group Accor currently has 45,000 keys throughout more than 380 properties and 14 brand names within its extended hold portfolio, which includes serviced condos and private leasing properties. In an Oct 24 announcement, the team claims it is currently the global’s biggest player beyond of the United States in this classification, backed by a high concentration of real estates across Europe and Asia.
Other current launches consist of Pullman Living Dongguan Forum in China, whilst Accor’s flagship “aparthotel” company Adagio celebrated its 15th anniversary in 2023 with the opening of 11 brand-new properties around 5 continents.
Accor claims it has even more extended stay estates in the pipeline, consisting of fresh areas for Novotel Living as well as a number of high-class serviced flat ventures in Riyadh, including the 250-key Sofitel Serviced Residences Riyadh.