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Accor, the world’s leading enhanced hotel group, will open a branded residential project every six weeks between 2023 and 2024, around 46% of which will be located in the India, Middle East, Africa and Turkey regions.
Accor has been operating private residential communities for over 20 years, managing a collection of extraordinary residences under the premium, luxury and lifestyle brands. These privately owned apartments, villas and cabins are extraordinary primary residences and exclusive secondary residences, each combination designed and serviced to meet brand expectations and standards.
Accor operates branded residences on a managed and franchise basis across 22 of the Group’s brands and currently has a global network and pipeline of more than 130 branded residential projects.
Daniel von Barloewen, Vice President and Head of Mixed Use, Europe, India, Middle East, Africa and Turkey said: “2021 was another record year for Accor’s signings and openings globally, as was our performance in India, Middle East, Africa. So Turkey region is a major contributor to it. So far, we have signed three branded residential projects in the region by 2022 and expect to sign three more by the end of the year. By the end of 2024, we will be in the region Operates more than 15 branded residential projects, covering Accor and Ennismore brands.”
The group already owns some of the most luxurious, prestigious, operating and soon-to-be-opened branded residences in the region, including planned residences for the upcoming Raffles Jeddah hotel in the Kingdom of Saudi Arabia. The property will be located on Corniche, offering unique accommodation with easy access to the area’s most coveted shopping centres and main streets, as well as Jeddah’s historic centre, all just minutes away.
While luxury branded residential continues to play a significant role in the global branded residential momentum, demand for lifestyle branded residential products is also increasing.
In 2021, Accor and Ennismore formed a joint venture to create the world’s largest and fastest-growing lifestyle hospitality company, including branded residences in its ecosystem.
Accor and Ennismore are expanding their global leadership in branded residences with more than 130 operational and pipeline branded residential projects in 33 countries.
Louis Abi Abboud, VP Development and VP Middle East, Africa, India and Turkey at Ennismore commented: “Ennismore branded residences account for approximately a quarter of Accor’s existing network and pipeline, with SLS, Mondrian and Hyde leading the way with eight There are six operations and sixteen pipeline homes between them. Ennismore will open five residential projects in the area over the next three years. The world’s first mum shelter will also open in Dubai in 2024.”
While about 75% of the branded residential network operated by Accor is in the luxury segment, high-end brands such as Mövenpick, Pullman, Swissôtel and Ennismore’s Mondrian and Hyde brands are growing and now account for 49% of developments. Accor is using its strong premium brand to help development partners reach new buyers and market segments.
Accor also sees increasing demand for detached residential projects (excluding the hotel component). The group currently has eight open-plan and under-construction detached homes, and according to Daniel von Barloewen, there is a growing demand for detached homes in certain major cities in the region, notably Dubai, Abu Dhabi, Riyadh, Jeddah, Doha and Cairo. Residential demand and potential are very high.
Accor currently operates 425 hotels (over 93,008 rooms) in India, the Middle East, Africa and Turkey, with another 192 hotels (over 41,230 rooms) in the pipeline. – arab trade news agency
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