Accor, a leading player in the hospitality industry, has recently updated its stakeholders and the public on its unparalleled position in the global extended stay, serviced apartments, and private rentals segments.
The company has introduced its Novotel Living brand to exciting new destinations, including Singapore, Bangkok, Saigon, and Kazakhstan, with plans to expand to even more locations in the near future.
Novotel Living, an innovative extension of the well-established Novotel brand, is known for its midscale offerings that cater to travelers seeking longer stays. Accor’s extensive portfolio includes more than 380 extended stay hotels spanning across 14 global brands, making it the largest player in this category outside the United States. The company has a strong presence in Europe and Asia, with a high concentration of properties in these regions.
The demand for extended stay options has seen a significant increase, with new travel habits emerging and travelers looking for accommodations that offer the comforts of home for longer periods. Accor has been at the forefront of this trend, leveraging its deep roots and strong relationships in key markets such as Europe, the Middle East, and Asia-Pacific.
Jean-Jacques Morin, Accor Deputy CEO and Premium, Midscale & Economy Division CEO, highlighted the company’s success in the extended stay sector, stating, “With one of the fastest growing extended stay networks in the industry, and robust demand for our popular premium to midscale brands such as Novotel Living, we will continue to push the boundaries in creating innovative places where our guests can live, work, and play.”
The global extended stay hotels market is currently valued at approximately USD 54.5 billion and is projected to reach USD 166.5 billion by 2032, with a compound annual growth rate (CAGR) of 11.8% over the next decade. Europe remains a key market for serviced apartments, while the Asia Pacific region leads in corporate serviced apartment volumes.
In addition to Novotel Living, Accor has recently opened Pullman Living Dongguan Forum in China and celebrated the 15th anniversary of Adagio with the opening of eleven new aparthotels across five continents. The company also has several luxury serviced apartment projects underway in Riyadh, including the 250-key Sofitel Serviced Residences Riyadh.
Accor’s extended stay offerings cater to a wide range of travelers, from economy to luxury, and the company is the only major hotel group to offer extended stay options in the lifestyle segment. Guests can explore and book accommodations through Accor’s dedicated booking website and benefit from the ALL – Accor Live Limitless lifestyle loyalty program.
“The escalation of demand for extended stay properties is a global phenomenon,” said Mr. Morin. “At Accor, we offer an unmatched portfolio of extended stay brands to service any traveler type and ensure that the brand experience of each remains true.”
