Adagio Announce Ambitious Expansion Plans
Adagio, the European leader in aparthotels, is set to double its number of aparthotels by 2023. Despite a challenging 2020, the brand's good economic health pre-COVID-19 and strong growth and performance in recent years has safeguarded its expansion plans.
Aparthotels Adagio hopes to have 90% of its properties reopened by the end of June, with the UK properties set to reopen their doors to guests in July, in accordance with government guidelines.
Adagio's extended stay business model has allowed it to cope with the crisis and minimise its collateral damage. The average length of stay is much longer than in the traditional hotel industry, ensuring a higher occupancy rate over the whole year. In addition, Adagio's low variable costs through limited catering, weekly cleaning and optimum use of its spaces allows it to be profitable on a continued basis.
Aparthotels Adagio was founded in France in 2007 as a joint venture between AccorHotels and Pierre & Vacances Center Parcs. The idea was to offer a home away from home experience, ideal for long-term travellers. The brand has three product ranges including Adagio®, Adagio® access and Adagio® premium.
The original 16 aparthotels located in two countries has rapidly developed into the Aparthotels company of today, with the network operating 116 aparthotels and 13,000 apartments located in 13 countries.
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.