>

Accor hits 45,000 keys under extended stay portfolio

/ EdgeProp Singapore |

October 25, 2023 11:15 AM SGT

Novotel Living Singapore Orchard (pictured) commenced operations in June 2022 (Picture: Accor)

Global hospitality group Accor now has 45,000 keys across more than 380 properties and 14 brands under its extended stay portfolio, which includes serviced apartments and private rental properties. In an Oct 24 press release, the group says it is now the world’s largest player outside of the US in this category, backed by a high concentration of properties across Europe and Asia.

“With new travel habits taking hold and more people seeking out longer stays, Accor has continued to do what we do best – lead the markets where we have deep roots, strong relationships and a powerful presence – such as Europe, the Middle East and Asia Pacific,” says Jean-Jacques Morin, Accor deputy CEO and premium, midscale and economy division CEO.

Accor’s growth in the extended stay segment has been bolstered by new openings for its Novotel Living brand, an extension of midscale hotel brand Novotel. Recent expansions for Novotel Living include properties in Bangkok, Saigon and Kazakhstan. In Singapore, the brand opened Novotel Living Singapore Orchard – a rebrand of the former 8 on Claymore Serviced Residences – in June 2022.

Read also: World’s largest Mercure Hotel opens on Club Street

Other recent openings include Pullman Living Dongguan Forum in China, while Accor’s flagship “aparthotel” brand Adagio celebrated its 15th anniversary in 2023 with the opening of 11 new properties across five continents.

Accor says it has more extended stay properties in the pipeline, including new locations for Novotel Living as well as several luxury serviced apartment projects in Riyadh, such as the 250-key Sofitel Serviced Residences Riyadh.

“The escalation of demand for extended stay properties is a global phenomenon, driven by a demographic shift among travellers who are taking longer trips, mixing business with leisure, and exploring destinations more fully,” says Morin.

He adds that Accor has an “unmatched” portfolio of extended stay brands to service any traveller type. Other brands under Accor’s extended stay portfolio include Mercure Living, Swissôtel Living and Mövenpick Living. It also offers extended stay options through brands such as Fairmont, Sofitel, Mondrian, Hyde and The Sebel. In addition, it has 33,000 private villas, apartments, and branded residences operated in rental programmes.

Tags: