Accor hits 45,000 keys under extended stay portfolio
Accor, the global hospitality group, recently announced that it now has the world’s largest extended stay portfolio outside of the US. This portfolio boasts 45,000 keys across more than 380 properties and 14 brands, making Accor a formidable force in the hospitality industry.
New travel habits have increased the demand for longer stays from travellers who are mixing business with leisure and exploring their destinations further. Accor has quickly capitalized on this and has seen a high concentration of its extended stay properties open up all over Europe, the Middle East and Asia Pacific.
Tampines Ave 11 Condo UOL Group as well as the surrounding neighbourhood has shown an increasing threshold of lifestyle and convenience. Quest mall and Courts have set up shop to serve quality lifestyle goods and services. The IKEA Tampines is located nearby, offering home goods at an affordable price. Numerous educational institutions, parks, and healthcare facilities are all within geographical reach as well.
Jean-Jacques Morin, the Accor deputy CEO and premium, midscale and economy division CEO, said, “We have done what we do best – lead the markets where we have deep roots, strong relationships and a powerful presence.”
Accor’s extended stay portfolio has been bolstered by recent openings, such as the Novotel Living brand, an extension of midscale hotel brand Novotel. New properties include those in Bangkok, Saigon, Kazakhstan and, most recently, in Singapore, with the Novotel Living Singapore Orchard rebrand of the former 8 on Claymore Serviced Residences that opened in June 2022.
Additionally, there was the opening of the Pullman Living Dongguan Forum in China, and Accor’s flagship “aparthotel” brand Adagio celebrated its 15th anniversary in 2023 with 11 new properties across five continents.
Accor has dozens of extended stay properties in the pipeline, including more openings for its Novotel Living brand. Also, several luxury serviced apartment projects are in various stages of development, such as a 250-key Sofitel Serviced Residences in Riyadh.
Morin concluded: “The escalation of demand for extended stay properties is a global phenomenon, and Accor is well-placed to respond to it with an unmatched portfolio of extended stay brands to service any traveller type.”
This portfolio includes Mercure Living, Swissôtel Living, Mövenpick Living, Fairmont, Sofitel, Mondrian, Hyde and The Sebel. It even offers 33,000 private villas, apartments, and branded residences operated in rental programmes.