LUXURY & LIFESTYLE BRANDS ARE KEY DRIVERS OF ACCOR’S FUTURE GROWTH, REPRESENTING THE LARGEST SHARE OF PROJECT VALUE IN THE GROUP’S DEVELOPMENT PIPELINE
As 2024 begins to unfold, Accor is continuing to meticulously expand the brands within its Luxury & Lifestyle division to meet the world’s accelerating demand for high-end and culturally relevant travel experiences. With estimates showing global luxury travel spend will reach $2.32 trillion by 2030, Accor is perfectly positioned with a portfolio of 370+ luxury hotels and 150+ lifestyle hotels worldwide as well as a robust development pipeline. Accor will open another 100 luxury and lifestyle hotels over the next two years, with expectations of at least 50 new luxury and lifestyle project signings per year.
“Accor has curated one of the most extraordinary hospitality portfolios in the world and we are leading the industry in designing hotel experiences that are as attractive to locals as they are to travelers – with luxurious residences, award-winning restaurants helmed by celebrity chefs, bars where people want to meet after work, high-end retail outlets, thematic concepts, boutique spas and fitness clubs with memberships, and so much more,” said Agnès Roquefort, Chief Development Officer, Luxury & Lifestyle, Accor. “As stewards of some of the world’s most legendary hotel brands, we are honored to bring them to more destinations around the world, while nourishing the unique character that makes each so immensely popular. With the strength of these unparalleled brands as our fuel, development is the engine that will help propel the Group forward, writing the next chapter in Accor’s luxury and lifestyle hospitality story.”
Orient Express is set for an exciting year ahead, with the debut of Orient Express La Dolce Vita in late 2024 – a luxurious ‘slow travel’ experience along the Italian rails in partnership with Arsenale Group. The brand’s first hotel, Orient Express La Minerva in Rome is also set to open in 2024, followed by Orient Express Palazzo Donà Giovannelli in Venice in 2025. Meanwhile, the Orient Express Silenseas, which will be the largest sailing ship in the world and is inspired by the Golden Age of the French Riviera, is preparing for its first voyages in 2026.
Raffles Hotels & Resorts enjoyed momentous year in 2023 with the openings of Raffles Boston; Raffles London at The OWORaffles at Galaxy Macau; and Raffles Al Areen Palace Bahrain Raffles Boston represents the first mixed-use development in North America for the 136-year-old brand, marking a new era for the legendary portfolio. These new destinations bring Raffles’ global hotel roster to 22 hotels in 18 countries. Since acquiring the brand in 2016, Accor has added 11 destinations and will debut another three in 2024, with Raffles Jaipur, Raffles Jeddah and Raffles Sentosa Resort & Spa.
The year ahead will also bring a bounty to Fairmont Hotels & Resorts with notable openings such as Fairmont La Hacienda, Costa del Sol in Spain and Cape Grace, A Fairmont Managed Hotel in South Africa. In The Americas, the iconic Breakers Hotel in California will be transformed into Fairmont Breakers Long Beach. By 2027, the brand will also introduce Fairmont Orlando; Fairmont Manchester San Diego, Fairmont Phoenix, and the branded residence project Fairmont Heritage Place The Cedars.
“The core pillar of our development strategy in The Americas is focused on increasing our presence in key gateway locations and establishing landmark addresses for our luxury and lifestyle brands. We choose our destinations carefully, with strategic destinations in the United States, as well as select city centers and leading resort locations throughout the broader Americas region,” said Edouard Schwob, Senior Vice President Luxury Americas and Raffles & Orient Express Global. “For example, bringing the Fairmont experience to one of California’s best-known and beloved luxury hotels is a perfect example of our strategy in action. The Breakers has a rich history, star-studded lineage, and strong links to its community – making it an ideal match for the Fairmont brand and for our luxury and lifestyle portfolio.”
Further afield, among the many beautiful new properties introduced by Sofitel Hotels & Resorts and MGallery Hotel Collection in 2023, two stunning properties stand out –Sofitel Legend Casco Viejo in Panama and Domaine De La Reine Margot Paris Issy – MGallery first Accor luxury property to Benin, with Sofitel Cotonou Marina Hotel & Spa; an alluring new haven in Mexico with MGallery Punta de Mita – Riviera Nayarit; the first MGallery in Japan with Hotel Sousei Sapporo – MGallery; MGallery Taipei, Taiwan; Gigiri Gem Forest Hotel Nairobi – MGallery; and two MGallery hotels in Poland: Sanssouci Karpacz Hotel & Spa – MGallery, and Hotel Szczecin – MGallery. The portfolio will be rounded out with the much-anticipated opening of Sofitel Shanghai North Bund. Looking beyond 2024, MGallery will continue to expand in The Americas region with Mayaliah Tulum – MGallery in Mexico; D’Hotels Jeri – MGallery in Brazil; and Valle Sagrado Cusco – MGallery in Peru.
Ennismore – which represents Accor’s presence in the lifestyle category – introduced a number of outstanding lifestyle properties in 2023, such as Banyan Tree Dubai, an exquisite modern escape and the first property to open within a multi-staged project on Bluewaters Island. Also freshly opened are Mondrian Hong Kong, Mondrian Bordeaux Les Carmes, Mondrian Cannes, Mondrian & Hyde Ibiza, Maison Delano Paris and 21c St. Louis. In 2024, Ennismore brands will grow with over 15 new hotels in destinations around the world including London, Vienna, Dubai, Perth, Jeddah, Istanbul, Barcelona and more.
Beyond luxury and lifestyle, Accor’s Premium, Midscale & Economy division is also preparing for an ambitious period of growth in 2024. Across The Americas region specifically, the group aims to increase its current portfolio of 450 hotels to more than 700 over the next three years. One of the Group’s top markets of strength in The Americas is Brazil, where Accor is number one in the hotel sector with 340 hotels. Accor will seek to maintain its leadership position in all segments, while furthering the growth of its premium brands, such as the fast-growing Pullman Hotels & Resorts – on track to achieve a global footprint of 400 Pullman hotels over the next four years. Handwritten Collection and Swissôtel Hotels & Resorts are two more of Accor’s globally renowned premium brands set to debut in Brazil. Accor will also bring the design driven TRIBE brand to Brazil, with its first destination in Belo Horizonte.
Accor is a world leading hospitality group offering experiences across more than 110 countries in 5,500 properties, 10,000 food & beverage venues, wellness facilities or flexible workspaces. The Group has one of the industry’s most diverse hospitality ecosystems, encompassing more than 40 hotel brands from luxury to economy, as well as Lifestyle with Ennismore. Accor is committed to taking positive action in terms of business ethics & integrity, responsible tourism, sustainable development, community outreach, and diversity & inclusion. Founded in 1967, Accor SA is headquartered in France and publicly listed on Euronext Paris (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information, please visit www.group.accor.com or follow us on Twitter, Facebook, LinkedIn, Instagram and TikTok.