Accor is growing quickly in Asia with 27 new hotel signings by the end of 2024, adding 8,117 rooms across 12 brands in eight countries worldwide.
Accor’s focus remains on expanding its premium, midscale, and economy (PM&E) segments. The popular brands that are leading the brands are Novotel and ibis in the midscale and economy categories, while premium brands are Pullman and Mövenpick are currently seen in strong demand.
For the growth in the industry, Accor has focused on “conversion-friendly” brands such as Mercure, Handwritten Collection, and ibis Styles. These brands make it easy for independent hotel owners to join onto the Accor network, providing a solid foundation for Accor’s expansion in the Asia market.
In the luxury and lifestyle space, brands like Raffles, Fairmont, and Sofitel continue to grow, along with lifestyle brands like Mondrian and SO/, which are gaining momentum in the region. So the competition is somewhat tight in this region.
The brands notable milestones in 2024 include signing the largest Mövenpick hotel in Asia and the first Mövenpick Living property in Singapore. There is also an addition of a Handwritten Collection hotel on Singapore’s Waterloo Street.
In India, Accor will open its first Pullman in Varanasi, while in Indonesia, new signings such as the Kapuk Hills Hotel Jakarta – Handwritten Collection and Novotel Medan are set to strengthen Accor’s presence. Accor also signed 10 deals in Vietnam, including the first Tribe hotel in the country. Another key project is Raffles Hotels & Resorts, set to open its first Tokyo hotel in 2028 in the World Trade Center, with 130 rooms.
Garth Simmons, Accor’s CEO for the Premium, Midscale, and Economy Division in Asia, noted that Asia remains a vibrant and fast-evolving market for hotels, He said, “These signings reflect our commitment to strengthening our presence and creating lasting value across important markets in Asia.”
