Register to get 1 free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Accor has unveiled its “encouraging” development outlook and “ambitious” full schedule of new hotel openings around the world this year.
The hotel group said that despite the challenges of last year, it maintained a steady pace of development and continued to sign new projects, leading to a “robust” roster of new hotel openings throughout 2021.
The recently announced joint venture with Ennismore, expected to close in Q2 2021, will contribute to a “richly diverse” platform with a host of new properties, including the Mondrian Shoreditch London.
In addition, its lifestyle category is also set to be one of its most “vibrant” segments over the coming year, and the number of lifestyle hotel openings is expected to triple by 2023. Its lifestyle segment currently accounts for roughly 5% of the group’s annual revenue, while representing 25% of the company’s development pipeline by value.
Accor’s luxury segment will also “make headlines” in 2021, with openings including the Banyan Tree Doha in Qatar and Raffles openings in Udaipur and Jeddah. Other openings in this sector will include the Fairmont Century Plaza in Los Angeles, along with Fairmont Windsor in England and Carton House, a Fairmont managed hotel in Dublin.
Conversion opportunities also presented themselves in 2020 and will continue to be a growth driver in 2021, according to the group.
Across Accor’s brand portfolio, leading brands for conversion opportunities include The House of Originals (Luxury), MGallery (Upper Premium), Mövenpick (Premium), Grand Mercure (Premium), Mercure (Midscale), ibis Styles (Economy) and greet (Budget). These seven brands account for 43% of Accor’s opening pipeline over the next five years.
Agnes Roquefort, global chief development officer, said: “As we are all too familiar, 2020 had a profound impact on our day-to-day lives and the hospitality industry as a whole; even so, the early stages of a global rebound will be material and significant.
“Despite the delays and temporary closures we experienced due to the pandemic, we continued to experience sustained momentum across our development pipeline and are optimistic that the worldwide rollout of Covid-19 vaccines will lead to renewed trust in travel and a much greater sense of personal safety for the entire global population.”
