Accor has provided an update on its fast-growing branded residences business line with the hope of tripling its current portfolio. The company aims to have more than 150 branded residences, an increase of 300 percent, by 2027. More than 100 projects are currently underway across 20 brand collections.
Chief Business Officer for Accor One Living, Jeff Tisdall, said that the intersection of private residences and lifestyle brands is one of the most compelling growth areas currently and are two areas in which Accor leads the global hospitality industry.
“Around the world, we are seeing strong demand for homes anchored by the comforts and promises of a beloved brand experience, providing a sense of belonging and community. This is particularly true for our lifestyle brands, where we see an important and growing segment of residential buyers seeking design-led brands with unique personalities that celebrate modernity, creativity, compelling food and drink, and extraordinary experiences,” said Tisdall.
According to Savills International Development Consultancy, the branded residential sector has grown 150% over the past decade, creating more than 100,000 units across 640 projects worldwide, expecting to exceed 1,100 projects by 2027, nearly doubling the current supply levels.
Accor has acted on the current statistics, with luxury branded real estate projects currently in development at Burleigh Heads on the Gold Coast and Maison Delano Residences in Seoul.
“Several societal and demographic trends drive global demand for branded residences.”
A post-pandemic surge in demand for a second or third home away from home has also been a significant driver for branded residences. The desire for seamless, turnkey recreational homes that can be cared for or rented out while homeowners are away has also been in popular demand.
