Accor hits 45,000 keys under extended stay portfolio
Accor’s growth in the extended stay sector has been reinforced by brand-new openings for its Novotel Living brand, a broadening of midscale hotel brand Novotel. Recent expansions for Novotel Living feature properties in Bangkok, Saigon and Kazakhstan. In Singapore, the brand opened up Novotel Living Singapore Orchard– a rebrand of the past 8 on Claymore Serviced Residences– in June 2022.
International hospitality group Accor now has 45,000 keys across more than 380 estates and 14 brand names under its extended stay portfolio, that includes serviced flats and private leasing properties. In an Oct 24 news release, the team says it is currently the global’s largest player outside of the US within this classification, supported by a high compression of real estates throughout Europe and Asia.
“The rise of interest for extended stay properties is a worldwide event, steered by a group change amongst visitors who are taking much longer travels, mixing organization with leisure, and discovering spots a lot more fully,” claims Morin.
He adds that Accor has an “unrivaled” profile of extended stay labels to service any visitor type. Different brands under Accor’s extensive stay portfolio consist of Mercure Living, Swissôtel Living and Mövenpick Living. It additionally provides extensive remain choices via business such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. Additionally, it has 33,000 exclusive villas, flats, and branded houses managed in leasing programmes.
Accor says it has even more extensive stay properties in the pipeline, consisting of fresh areas for Novotel Living as well as several high-class serviced condominium assignments in Riyadh, such as the 250-key Sofitel Serviced Residences Riyadh.
“With new traveling behaviors holding and more individuals choosing much longer stays, Accor has remained to do what we do most effectively– lead the markets in which we have deep origins, sturdy connections and a powerful visibility– such as Europe, the Middle East and Asia Pacific,” states Jean-Jacques Morin, Accor deputy CEO and premium, midscale and economy segment chief executive officer.
Some 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 real properties around 5 continents.