Accor hits 45,000 keys under extended stay portfolio

International hospitality group Accor currently has 45,000 keys across more than 380 real estates and 14 brands under its prolonged hold profile, which includes serviced condos and nonpublic rental properties. In an Oct 24 press release, the team claims it is currently the global’s biggest player beyond of the US here in this classification, supported by a higher compression of properties throughout Europe and Asia.

“The rise of demand for long-term stay residential properties is a worldwide occurrence, pushed by a demographic change among travellers who are taking much longer visits, mixing organization with recreation, and discovering spots extra fully,” says Morin.

Accor’s progress in the long stay segment has actually been boosted by brand-new openings for its Novotel Living brand, an extension of midscale hotel brand Novotel. More recent developments for Novotel Living include real estates 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.

He adds that Accor has an “unrivaled” profile of prolonged stay brands to service any traveller type. More organizations under Accor’s lengthy stay portfolio consist of Mercure Living, Swissôtel Living and Mövenpick Living. It additionally offers extensive stay choices through business such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. Additionally, it has 33,000 private villas, condos, and branded residences operated in rental programmes.

Accor claims it has even more extended stay properties in the pipeline, including new places for Novotel Living as well as a number of high-end serviced condominium ventures in Riyadh, including the 250-key Sofitel Serviced Residences Riyadh.

Newport Residences floor plan

Many other recent openings include Pullman Living Dongguan Forum in China, although Accor’s front runner “aparthotel” label Adagio rejoiced in its 15th anniversary in 2023 with the launching of 11 new real estates around 5 continents.

“With new touring practices holding and even more people looking for much longer stays, Accor has remained do what we do most effectively– lead the industry where we have deep origins, solid relationships and a highly effective visibility– including Europe, the Middle East and Asia Pacific,” states Jean-Jacques Morin, Accor deputy CEO and premium, midscale and economy section chief executive officer.

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