Accor is kicking off the year with an encouraging development outlook and a full schedule of new hotel openings. The company maintained a steady pace of development and continued to sign new projects, and expects a "robust roster" of new hotel openings throughout 2021.
Accor's lifestyle segment currently accounts for roughly 5 percent of the group's annual revenue while representing 25 percent of the company's development pipeline by value. The company expects the number of lifestyle hotel openings expected to triple by 2023. The recently announced joint venture with Ennismore, expected to close in Q2 2021, will add new properties including the Mondrian Shoreditch London; Jo&Joe Vienna Westbahnhof; SO/ Sotogrande Resort & Spa in Cadiz, Spain; SLS Dubai and 25hours Dubai.
Luxury hotels set to open in 2021 will include the Banyan Tree Doha in Qatar and Raffles openings in Udaipur, India; and Jeddah, Saudi Arabia. Openings under the Fairmont brand will include the Fairmont Century Plaza in Los Angeles, along with Fairmont Windsor in England; Carton House, a Fairmont managed hotel in Dublin; Fairmont Ramla Riyadh in Saudi Arabia; Fairmont Ambassador Seoul in South Korea; and, Fairmont Tagazhout Bay in Morocco. Sofitel will join several new destinations, including Seoul; Hangzhou, China; and Adelaide, Australia.
Across the group's portfolio, leading brands for conversion 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 percent of Accor's opening pipeline over the next five years.
Upcoming openings in North America include the Fairmont Century Plaza in Los Angeles, the Novotel Mexico City Toreo, the SLS Cancun Hotel & Residences in Mexico and the SLS Harbour Beach Residences in Cancun.