Accor expands its footprint into Eastern Europe

Accor, an established market leader in Europe, has made significant strides in expanding to the East of the continent as it continues to drive market leadership in the region…

exterior view of Accor Mövenpick Balaland Resort Lake Balaton

Last year saw Accor signing 47 properties in Eastern Europe and the ‘New East’ – the latter including South Caucasus countries Armenia, Azerbaijan and Georgia, as well as Central Asia, notably Kazakhstan on the threshold of Europe and Asia, and Uzbekistan. Romania saw the most signings for Accor in these regions during the year with eight new properties, followed by seven in Uzbekistan, six in Hungary, five in Poland and four in Georgia, with total signings across these regions accounting for a total of 5,476 rooms.

guestroom interior in Mövenpick Balaland Resort Lake Balaton by Accor

Image credit: Accor

“Countries in Eastern Europe and those on the threshold of Europe and Asia continue to provide a fast-growth market for hotel development,” said Camil Yazbeck, Global Chief Development Officer, Premium, Midscale & Economy at Accor. “They are seeing a rise in tourist numbers, with strong domestic and intra-regional travel demand, and provide value for money alternatives for those travelling from further afield.”

Accor drove a 60 per cent growth in the South Caucasus and Central Asia area, signing 15 new projects under six hotel brands adding more than 2,100 rooms to its existing portfolio of 24 hotels in these regions. The region proved fertile ground for Accor’s premium brands in particular, with 17 signings including seven Mövenpick Hotels & Resorts and four Swissôtel Hotels & Resorts. Mercure also performed well in the midscale segment, with 12 signings; and ibis Styles was the fastest growing economy brand in the East, with seven new signings.

Conversion opportunities continued to be a growth driver, with an equal number of new build and conversion projects signed, underpinning the company’s strong focus on environmental, social and governance. Accor’s’ strong growth in these countries is indicative of their burgeoning tourism markets and the popularity of international brands in the region.

Main credit image: Accor