Accor participated in the Future Hospitality Summit, which returned to Saudi Arabia this year, bringing together the Kingdom's leading industry experts. From 2022 to 2032, the growth rate in the GCC's tourism sector is projected to be 13.6% with a potential market value of 65.5 billion USD.
Accor's Premium, Midscale & Economy Division Launches 2024 With Expansion Activity in key Regional Markets
This share repurchase, which will amount to ?275m, is part of the ?400m share buyback program of Accor for 2024. The remaining amount of the share buyback program will be executed in the near future.
Due to this year's signings, more than 1,200 rooms in total were added to the pipeline between 2023-2026 across 8 countries in Europe. The brand strengthens its presence with five hotel signings in France, three in Romania, two in Spain, two in Poland along with hotels announced in Estonia and the UK.
Accor shared its recent signings for November 2023 throughout Asia.
Accor today shared an update on its market leading position in the global extended stay, serviced apartments and private rentals segments including new destinations for its brand.
Accor is aiming for significant growth in its premium hotel portfolio across Europe and North Africa, with a robust pipeline across key brands including Pullman, Mövenpick and Swissôtel.
Accor has signed 30 new hotels and resorts across Asia over the last two months under the Group’s Premium, Midscale & Economy brands.
Acco has opened three new properties in Asia during the month of July: the mid-scale Mercure Pangkalan Bun and premium Mövenpick Hotel Surabaya City in Indonesia, and the midscale Novotel Rayong Star Convention Center in Thailand.
By 2027, the company expects to have more than 150 branded residences in operation, an increase of more than 300%.