Accor hits 45,000 keys under extended stay portfolio
Accor’s progression in the extended stay segment has been bolstered by new openings for its Novotel Living label, a broadening of midscale resort brand Novotel. Latest growths for Novotel Living feature properties in Bangkok, Saigon and Kazakhstan. In Singapore, the company opened up Novotel Living Singapore Orchard– a rebrand of the prior 8 on Claymore Serviced Residences– in June 2022.
“With brand-new traveling behaviors taking hold and even more consumers seeking out longer stays, Accor has actually remained to do what we do best– lead the markets where we have deep roots, solid connections and a highly effective existence– such as Europe, the Middle East and Asia Pacific,” claims Jean-Jacques Morin, Accor sub chief executive officer and premium, midscale and economy division CEO.
“The escalation of pursuit for extended stay residential properties is a worldwide occurrence, steered by a group shift among visitors that are making much longer trips, mixing business with leisure, and discovering spots much more fully,” claims Morin.
Global hospitality group Accor now has 45,000 keys across more than 380 estates and 14 brand names underneath its prolonged hold portfolio, that includes serviced condos and nonpublic leasing properties. In an Oct 24 news release, the group says it is now the world’s largest player beyond of the US here in this category, backed by a higher concentration of real estates throughout Europe and Asia.
Accor states it has more prolonged stay real properties in the pipeline, consisting of new locations for Novotel Living as well as a number of luxury serviced condominium assignments in Riyadh, including the 250-key Sofitel Serviced Residences Riyadh.
He adds that Accor has an “incomparable” profile of extensive stay brands to service any kind of visitor kind. More companies under Accor’s lengthy stay portfolio include Mercure Living, Swissôtel Living and Mövenpick Living. It even supplies prolonged keep alternatives by means of business such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. Furthermore, it has 33,000 exclusive villas, flats, and branded residences operated in leasing programs.
Some other recent launches include Pullman Living Dongguan Forum in China, although Accor’s flagship “aparthotel” company Adagio commemorated its 15th birthday in 2023 with the launching of 11 new properties all over 5 continents.