Industry Update
Press Release26 February 2020

Aparthotels Adagio® Celebrates Accelerated Global Growth

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Adagio

Since its inception in 2007, Aparthotels Adagio® has established itself as the European leader in aparthotels. 2019 marked a year of exceptional performances for the brand, including seven openings in four countries and an additional 17 aparthotel signings. By 2023, Aparthotels Adagio aims to double its portfolio, reaching 162 aparthotels in Europe and 220 worldwide.

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2019 also saw the Aparthotels Adagio brand surpass the €300 million mark in business volume, exceeding its objectives with an increase in sales on all direct (+ 10% in e-distribution vs 2018) and indirect channels (+ 21% vs 2018), in addition to sales boosts in both leisure and business guest segments.

In addition to an increase in sales, Aparthotels Adagio also saw its overall guest satisfaction score double - in comparison to all other hotel brands, with 86.9% either satisfied or very satisfied in 2019. This progression is the result of a strategy oriented around the customer experience, led by the brand since 2016.

Recent aparthotel openings in France included the Aparthotel Adagio Access Palaiseau Saclay, the Aparthotel Adagio Access Montpellier Centre, the Aparthotel Adagio Paris Nation and the Aparthotel Adagio Lille Centre Grand Place, with several other new properties worldwide. These new international properties include Bremen inGermany (which marks the brand's fifth opening in Germany), Casablanca in Morocco (which marks the first extension of the aparthotels network into North Africa), Jeddah in Saudi Arabia, and Leicester, UK.

In addition to development projects, the brand's new concept for common areas of its aparthotels ('The Circle') has also accelerated: 38 establishments were already renovated at the end of 2019, with the renovation of 21 sites planned for completion in 2020.

2019 also marked a record number of signings for the brand, with 17 signings in seven countries, including new locations for the brand, such as Poland, Mauritius, Ukraine, Rwanda and Romania. This internationalisation is in-keeping with the brand's global customer base; last year Aparthotel Adagio welcomed 514,296 guests from 227 different nationalities.

In addition to these new openings and signings, Aparthotels Adagio will also be collaborating with the Success Hotel Group to open the Aparthotel Adagio Antwerp in 2022 and the Aparthotel Adagio access Brussels Airport in 2023. With two aparthotels already in the capital, these new aparthotels will further cement the brand's presence in Belgium.

Karim Malak, Managing Director of Aparthotel Adagio, commented: "I am very proud of our collaborators and of all that we have accomplished with Aparthotel Adagio in 2019. We continue to create value for our customers, our collaborators, our partners, our shareholders and obviously also for the cities in which we are established."

"Globally, the extended stay sector is growing rapidly on all continents, driven by the new uses of millennials and a strong demand for well-being and conviviality."

"Aparthotel Adagio is the player of choice in this dynamic and attractive environment; our ambition remains to be the preferred accommodation solution for urban, business and family travellers."

Thomas Lamson, Chief Development & Projects Officer of Aparthotels Adagio, said: "2019 has been a very dynamic year for Adagio, with several innovative projects, including the recent 12th arrondissement of Paris, in which we opened the tallest wooden structure in Paris in cooperation with the Rothschild Foundation."

"Our contracts show that our growth is accelerating worldwide. The strengthening and involvement of our specialised teams has enabled us to react very quickly to the needs of our partners in target markets."

2020 will mark another year of tremendous growth for Aparthotels Adagio, with eleven planned openings including Brussels, London, Freiburg (Germany), Dubai and Goiânia (Brazil). A trial of a co-living concept will also be rolled out in Bercy at the end of the first half of this year; created in response to new hotel and real estate trends with the aim of further strengthening the shared experience of aparthotel guests.

Related Brand

Adagio / Adagio Access

Aparthotels Adagio, No. 1 in Europe, offer modern and spacious apartments with a fully equipped kitchen, and as well hotel services in urban locations for extended stays, based on attractive tiered pricing from fourth night onwards.
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About Accor

Accor is a world leading hospitality group consisting of more than 5,000 properties and 10,000 food and beverage venues throughout 110 countries. The group has one of the industry's most diverse and fully-integrated hospitality ecosystems encompassing luxury and premium brands, midscale and economy offerings, unique lifestyle concepts, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor also boasts an unrivalled portfolio of distinctive brands and approximately 300,000 team members worldwide. Over 65 million members benefit from the company's comprehensive loyalty program ALL - Accor Live Limitless - a daily lifestyle companion that provides access to a wide variety of rewards, services and experiences. Through its Planet 21 - Acting Here, Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the group is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity and inclusivity. Founded in 1967, Accor SA is headquartered in France and publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACRFY) in the United States. For more information visit group.accor.com or follow Accor on Twitter, Facebook, LinkedIn and Instagram.

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