Accor reports on 2021 growth and reveals more ambitious plans

by | 27 Mar 2022 | Portfolio

Raffles & Fairmont Doha

Accor has released a summary of its 2021 development activities and revealed its plans for growth in 2022 and beyond.

The leading hospitality group is set to grow its global presence by 300 properties by the end of the year.

Heightenings its global presence

Accor’s new report reveals that the group opened 288 hotels and resorts, together comprising 41,000 rooms, in 2021, bringing the global portfolio to more than 5,300 hotels with a total of 778,000 rooms between them.

In 2021, the group achieved 3% growth, with more signings and openings than any of its competitors. There are currently 1,200 properties, amounting to 214,000 rooms, in the pipeline.

This past year’s growth was particularly significant in Europe, China and the Middle East. Throughout 2021, Accor signed 153 new hotels in Europe with 20% growth vs 2020. China saw 39% growth vs 2020 in Accor signings and the India, Middle East, Africa, Turkey (IMEAT) region stands out as the largest growth driver for Accor.

As many as 40% of Accor’s hotel developments involved the development of existing sites, which is in line with the group’s environmental, social and governance (ESG) commitments.

Agnès Roquefort, global chief development officer for Accor, commented: “In 2021, we continued to reinforce our leadership position in the regions where we have historically led the competition, while building strong momentum in the key markets of North America and China.”

“We are projecting an even higher pace of growth this year and are pleased to have resumed signing new hotels at a rate of one per day. We are extremely grateful to our development teams around the world who are doing a fantastic job of pushing projects forward, exceeding targets, and opening new doors – despite ongoing supply chain challenges, geo-political tensions, stringent health and safety regulations, and post-pandemic recoveries which continue at a varied pace.”

A year of milestones

Significant milestones for 2021 included the first signing for Accor’s newest luxury brand, Emblems Collection, in Guizhou province; the announcement of plans for the world’s first two Orient Express destinations in Rome and Riyadh, as well as plans for Orient Express La Dolce Vita rail tourism project.

Last year saw the launch of the first Banyan Tree in the Middle East, Banyan Tree Doha La Cigale Mushaireb in Qatar, and a second location is to open later this year in AlUla, Saudi Arabia. Developments in hotel design then included the creation of the first Novotel RF Studio guest room at Novotel Dubai Jumeirah Triangle, UAE.

These developments have spanned a diverse network of brands, with luxury and premium properties driving up the portfolio’s value and the economy and midscale hotels driving volume. Versatile brands including greet, ibis Styles, Mercure, and Mövenpick made up 48% of signings in 2021.

Brand flagships planned for 2022 and 2023 debut now include Raffles London at The OWO, Sofitel Barcelona Skipper, Rixos Doha Qetaifan Island, The Admiral Hotel Manila – MGallery, Pullman Orchard Singapore and Novotel Mexico City Insurgentes.

Growing segments

The group is now seeing Lifestyle, led by Ennismore, as one of its fastest growing segments. Development highlights from Ennismore in 2021 include signings such as Morgans Originals Legacy in Miami and openings including Mondrian Shoreditch London. Openings for 2022 include Maison Delano Paris and Mondrian Singapore Duxton.

Gaurav Bhushan, co-CEO of Ennismore, said: “Lifestyle is one of the fastest-growing segments of the hospitality industry, and we’re seeing that through increased demand for our brands, as we quickly bounce back to pre-pandemic levels.”

“In 2021 we opened 15 new hotels, and we’re set to almost double that this year with strong growth in all regions, especially Europe, Americas and the Middle East. There’s no doubt lifestyle brands are recovering faster from the impact of the pandemic, helped by strong local and domestic demand, in particular for our restaurants and bars.”

Another area of significant growth is the hotel branded residences sector. Accor currently has 35 operating properties under 16 brands in this sector, with 20 new signings in 2021 and a total of 90 branded residence projects in the pipeline.

Highlights from residential developments in 2021 include the record sell-out of Mondrian Residences Gold Coast, Australia, and the new sales record of £49 million for a penthouse at The OWO Residence by Raffles, London. Forthcoming projects now include Raffles Boston Back Bay Hotel & Residences and Fairmont Century Plaza Residences in Los Angeles.

“Development is the engine that drives Accor and our ability to offer the most diversified brand portfolio in the world allows us to stand out in the market,” said Roquefort.

“Throughout 2021, hoteliers turned to us because of the significant revenue boost that Accor’s powerful sales, distribution and loyalty platforms provide, and their satisfaction comes in knowing we’ve got a brand that will comfortably match their property, their guest profiles, and their unique, local aesthetic. This is where we will continue to focus our efforts in 2022, aiming to deliver the right product to the right market, with the right partner, every time.”

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Accor is a world-leading augmented hospitality group offering unique and meaningful experiences in more than 5,000 hotels globally.

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