Accor hits 45,000 keys under extended stay portfolio

“With new touring routines holding and more people seeking longer stays, Accor has remained to do what we do best– lead the markets in which we have deep roots, sturdy partnerships and a highly effective visibility– such as Europe, the Middle East and Asia Pacific,” says Jean-Jacques Morin, Accor deputy CEO and premium, midscale and economy segment CEO.

Some other current starts consist of Pullman Living Dongguan Forum in China, whilst Accor’s front runner “aparthotel” company Adagio rejoiced in its 15th birthday in 2023 with the launching of 11 brand-new real estates throughout five continents.

Accor claims it has even more prolonged stay estates in the pipeline, consisting of fresh areas for Novotel Living as well as a number of high-end serviced apartment projects in Riyadh, for example, the 250-key Sofitel Serviced Residences Riyadh.

He includes that Accor has an “incomparable” portfolio of extended stay companies to service any type of tourist type. More organizations under Accor’s extended stay portfolio consist of Mercure Living, Swissôtel Living and Mövenpick Living. It even offers prolonged stay choices by means of business such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. Furthermore, it has 33,000 private villas, condos, and branded residences operated in rental programmes.

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Accor’s progress in the long-term stay segment has actually been boosted by brand-new openings for its Novotel Living label, an extension of midscale resort brand Novotel. Latest developments for Novotel Living include properties in Bangkok, Saigon and Kazakhstan. In Singapore, the brand opened Novotel Living Singapore Orchard– a rebrand of the past 8 on Claymore Serviced Residences– in June 2022.

“The rise of interest for prolonged stay residential properties is an international event, steered by a group shift amongst visitors that are taking much longer travels, blending organization with leisure, and discovering locations much more completely,” claims Morin.

International hospitality group Accor currently has 45,000 keys throughout more than 380 real estates and 14 brands under its extensive stay profile, that includes serviced apartments and nonpublic rental real estates. In an Oct 24 news release, the group says it is now the global’s largest player beyond of the US within this group, endorsed by a higher compression of real estates throughout Europe and Asia.

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