Accor provided an update on the progress of its branded residences business line. Currently, Accor is welcoming residents home at some 40 branded residence communities around the world, with another 100+ projects under development across 20 distinct brand collections. By 2027, the company expects to have more than 150 branded residences in operation, an increase of more than 300 percent. These properties are supported by Accor One Living, the company’s platform focused on the development, design, and operation of mixed-use projects and branded living communities. Through Accor One Living, homeowners, guests, and partners are connected to Accor’s ecosystem of brands, experiences, and solutions.
“The intersection of private residences and lifestyle brands is one of our most compelling areas of growth right now—two areas in which Accor leads the global hospitality industry and is continuing to push forward,” said Jeff Tisdall, chief business officer, Accor One Living. “Around the world, we are seeing strong demand for homes that are 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 who are seeking design-led brands, with unique personalities that celebrate modernity, creativity, compelling food and drink, and extraordinary experiences.”
Ennismore, in which Accor holds a majority shareholding, has 11 branded residences open and 26 under development, including Mondrian Residences Burleigh Heads in Gold Coast, Australia; and Maison Delano Residences, Seoul.
One of the focus markets for Ennismore branded residences right now is in Dubai, where the lifestyle collective currently offers three projects. These include:
- SLS Residences The Palm Dubai—The first standalone residence in the Ennismore collective outside of the Americas is set to open in 2026.
- Mama Shelter Residences, Dubai—The first Mama Shelter residence in the world will add to the Business Bay area when it opens in Q1 2024.
- SO/ Uptown Dubai Residences—Opening later this year, this 227-residence property offers residential amenities.
In the luxury segment, Accor continues to grow from its classic brands such as Raffles and Fairmont. Flagship developments include The OWO Residences by Raffles in London—a historical renovation project undertaken with Hinduja Group and Onex Holding; Raffles Residences Boston Back Bay; Fairmont Residences Century Plaza in Los Angeles; and Fairmont Residences Royal Palm Marrakech.
With more than two decades of experience in branded residences, Accor One Living also supports the integration of other hospitality products into mixed-use developments, including private clubs, coworking, and office space solutions. Accor One Living supports each phase in the life cycle of the projects in a single organization. These solutions help guests and homeowners alike while enabling investment partners to have value by extending management solutions across multiple components of the same mixed-use development and through the sharing of amenities, facilities, and infrastructure.
Find more of LODGING’s 2023 NYU International Hospitality Industry Investment Conference coverage here.
