Accor’s global leadership position in the increasingly popular extended stay market continues to accelerate 

Accor’s global leadership position in the increasingly popular extended stay market continues to accelerate 


The submit Accor’s global leadership position in the increasingly popular extended stay market continues to accelerate  appeared first on TD (Journey Every day Media) Brand TD.

Accor shared an replace on its market main place within the world prolonged keep, serviced residences and personal leases segments together with thrilling new locations for its Novotel Dwelling model. The forward-thinking extension of Novotel, one of many best-known midscale lodge manufacturers on the planet, is now working in Singapore, Bangkok, Saigon, and Kazakhstan, with extra areas quickly to observe. With greater than 380 prolonged keep accommodations underneath 14 world manufacturers, Accor is the world’s largest participant within the class (exterior america), with a excessive focus of properties throughout Europe and Asia.

“With new journey habits taking maintain and extra folks in search of out longer stays, Accor has continued to do what we do greatest – lead the markets the place now we have deep roots, sturdy relationships, and a strong presence – similar to Europe, the Center East and Asia-Pacific,” stated Jean-Jacques Morin, Accor Deputy CEO and Premium, Midscale & Economic system Division CEO. “Over the previous couple of many years, Accor has established stable bench energy in our prolonged keep portfolio with a lot of our flagship manufacturers – from Adagio, which is Europe’s market chief within the aparthotel business, to trendy serviced residences throughout our luxurious and way of life portfolios. With one of many quickest rising prolonged keep networks within the business, and strong demand for our in style premium to midscale manufacturers similar to Novotel Dwelling, we’ll proceed to push the boundaries in creating revolutionary locations the place our visitors can reside, work, and play.”

The worldwide prolonged keep accommodations market is at present valued at roughly USD 54.5 billion and projected to achieve USD 166.5 billion by 2032, as measured by Future Market Insights, predicting a compound annual development charge (CAGR) of 11.8% over the subsequent 10 years. In response to the World Serviced Condominium Business Report (GSAIR) 2023, “Europe stays the epicenter of serviced residence demand,” whereas Asia Pacific accounts for the most important share of company serviced residence volumes, with the UK a detailed second. The report additional identifies the cities with the best development in demand as Riyadh, London, and Singapore.

Past the brand new Novotel Dwelling locations, Accor just lately opened Pullman Dwelling Dongguan Discussion board in China, and Adagio is celebrating its 15th anniversary in 2023 with the opening of 11 new aparthotels throughout 5 continents. New locations embrace Abidjan Marcory within the Ivory Coast; Rome, Italy; Whitechapel London, UK; and Heidelberg, Germany. In the meantime in Riyadh, Accor has a number of extremely anticipated luxurious serviced residence initiatives underway together with the 250-key Sofitel Serviced Residences Riyadh.

CBRE Resorts Analysis and STR have famous that within the US, lodge prolonged keep portfolios have expanded by “greater than 50% – a CAGR of seven.1% versus 3.2% for the US market as an entire.”  And but, as a latest report by Skift highlights (with figures from The Highland Group), demand for extended-stay lodging continues to be “outpacing provide by almost three-to-one in most US markets.”  Moreover, The Highland Group experiences that earlier this 12 months, “the financial system, mid-price, and upscale segments noticed demand rising by double-digit percentages whereas provide rose by solely low single-digit percentages.”

Accor’s world manufacturers with prolonged keep choices vary from financial system to luxurious, together with Europe’s market chief Adagio and Adagio Entry, refreshingly fashionable Mercure Dwelling, and one of many latest and hottest, Novotel Dwelling. Within the premium section, Accor’s world manufacturers with prolonged keep embrace Swissôtel Dwelling, Pullman Dwelling, and Mövenpick Dwelling. Accor’s serviced residences within the luxurious and higher upscale classes are discovered among the many Fairmont, Sofitel and MGallery Dwelling manufacturers. Accor is the one main lodge group to supply prolonged keep choices within the way of life section, represented by Ennismore’s Hyde, Mondrian, SLS and SO/ manufacturers. Along with these, Accor has a number of manufacturers working prolonged keep on a regional foundation, similar to: The Sebel, Tribe Dwelling, Cassia, Mantra, Peppers, Artwork Collection, and Breakfree, together with one other 33,000 non-public villas, residences, and branded residences operated in rental packages.

A devoted reserving web site permits vacationers to discover and choose from Accor’s numerous portfolio of prolonged keep, serviced residence properties, and branded residences taking part in rental packages. Friends and residents of those locations will profit from Accor’s way of life loyalty program ALL – Accor Dwell Limitless, a each day way of life companion that harnesses and enhances the manufacturers, providers, and partnerships supplied by Accor’s worldwide ecosystem.

“The escalation of demand for prolonged keep properties is a world phenomenon, pushed by a demographic shift amongst vacationers who’re taking longer journeys, mixing enterprise with leisure, and exploring locations extra totally,” stated Morin. “At Accor, we provide an unmatched portfolio of prolonged keep manufacturers to service any traveler kind and make sure that the model expertise of every stays true.”

 

 

 

The submit Accor’s global leadership position in the increasingly popular extended stay market continues to accelerate  appeared first on Brand TD.



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