Hotel group Accor, which set up a joint venture with Hoxton hotels owner Ennismore in November, says it expects to open three times as many lifestyle hotels between now and 2023. The group says that the lifestyle segment currently accounts for roughly five per cent of annual revenues, but represents 25 per cent of the company's development pipeline by value.
Among the properties slated to open this year are the Mondrian Shoreditch London, JO&JOE Vienna Westbahnhof, SLS Dubai and 25hours Dubai.
The group will also see a number of openings in the luxury category, including the Banyan Tree Doha in Qatar, Raffles hotels in Udaipur and Jeddah, and Fairmont properties in Los Angeles, Riyadh, Seoul and Windsor.
The upper premium MGallery brand will also see rapid growth this year with the opening of hotels in Singapore, Hong Kong and Sydney.
Agnes Roquefort, Accor’s global chief development officer, said, "As we are all too familiar, 2020 had a profound impact on our day-to-day lives and the hospitality industry as a whole; even so, the early stages of a global rebound will be material and significant.
“Despite the delays and temporary closures we experienced due to the pandemic, we continued to experience sustained momentum across our development pipeline and are optimistic that the worldwide rollout of Covid-19 vaccines will lead to renewed trust in travel and a much greater sense of personal safety for the entire global population."
The €1 billion Ennismore deal is expected to close in Q2.