Accor accelerates in Japan with agreement to operate 23 properties

ACCOR SIGNS MILESTONE AGREEMENT WITH EBISU RESORT LLC, WITH 23 PROPERTIES SET TO JOIN THE GROUP'S HOTEL NETWORK BY Q2 2024

PARIS, July 21, 2023 /PRNewswire/ -- Accor's presence in Japan is set to double while hotel openings gain momentum throughout the region. With travel and tourism surging once again on a global scale, countries such as Japan, Singapore, Vietnam, and surrounding regions such as China, are experiencing a significant influx of foreign travelers, as well as increasing domestic demand for business and leisure travel experiences.

Accor recently announced a new strategic partnership with JHRA in Japan to renovate and rebrand the Daiwa Resorts portfolio into Grand Mercure and Mercure hotels that will offer uniquely local experiences. The agreement will double Accor's current portfolio in Japan, adding 23 properties and over 6,000 rooms. Conversion of the hotels will occur throughout 2024, after which the properties will operate under the aforementioned Accor brands.

"We are thrilled to be adding these great hotels to our portfolio in Japan and will continue to build on the relationships that Daiwa Resort has successfully maintained within each region, working closely with our partners, Japan Hotel Reit Advisors, Daiwa Resort's asset manager, to revitalize these properties," said Jean-Jacques Morin, Group Deputy CEO and CEO Premium, Midscale & Economy Division, Accor. "The recovery of Asia is fueling our ambitions as we seek to offer travelers a deeper and more diverse range of hospitality experiences across the region. Over the past decade, Accor has shifted from being asset-heavy to becoming an agile, asset-light company growing our hotel portfolio by 50% and tripling our brands. Now, with a resurgence of demand to serve as the wind beneath our wings, we will guide these brands to new heights, with more density, presence, and scale than ever before."

"We would like to express our sincere gratitude to everyone who has supported Daiwa Resorts until now. 23 of our hotels located in scenic spots across Japan, from Hokkaido to Okinawa, will be rebranded as Grand Mercure and Mercure hotels. By rebranding, we will be able to provide our customers with various allures and memorable travel memories. In the future, we promise that guests will be able to enjoy a comfortable stay with activities that incorporate local cuisine, local attractions and relaxing hot springs while making the most of the unique characteristics of each hotel. We would like to work together with the local community more than ever before and share the appeal of each region not only within Japan but also around the world," commented Koji Mayanagi, Daiwa Resort Co., Ltd. President & CEO.

Accor will also debut several new flagship properties in the region over the coming years, demonstrating the diversity of the Group's expanding network in Asia Pacific.

• Pullman Singapore Hill Street is an architectural masterpiece augmented with smart technology and a rooftop bar that will open later this year.
• ibis Styles Bangkok Twin Towers will be the largest ibis Styles property in the world upon its official opening in 2024, featuring the brand's creative, playful and family-friendly approach.
• Novotel Nara will open in 2024, bringing one of the world's favorite midscale hotel brands and a multi-sensory experience for business and leisure travelers to this richly historic area of Japan, just 45 minutes south of Kyoto.
• Fairmont Hanoi will open in 2024 in Vietnam, blending one of the world's most celebrated luxury hotel brands with authentic Indochinese style and the vibrant local culture of Ho Chi Minh City.
• Mondrian Singapore Duxton opens this year, bringing the brand's signature blend of art, glamour, and culinary flair to one of Singapore's most desirable neighborhoods.
• Fairmont Tokyo, slated for an opening in 2025, will feature 219 guestrooms and awe-inspiring views of Tokyo Bay.

Historically, Thailand and Indonesia have been areas of strength for Accor and where the company will continue to push forward with new development opportunities. Vietnam, Philippines, and Japan are also markets of significance that Accor has identified for growth opportunities in the future.

Accor will continue to seek out large scale opportunities exploring more conversion opportunities thus efficiently adding value to existing hotels and giving brands a sizeable boost.

Independent hotel owners have long been attracted to Accor brands for conversion opportunities. The Group is renowned for its adaptability, ease of transition, and unmatched spectrum of brands, including Pullman, Novotel, ibis, ibis Styles, Mercure, Grand Mercure, Mövenpick, greet, and the newest addition – Handwritten Collection. All of these brands are designed to be conversion friendly, offering owners of existing hotels a swift revenue boost with immediate access to the power and reach of Accor's sales, distribution and loyalty platforms, while also benefiting from the Group's environmental, social, and governance (ESG) capabilities.

ABOUT ACCOR

Accor is a world leading hospitality group offering experiences across more than 110 countries in 5 400 properties, 10 000 food & beverage venues, wellness facilities or flexible workspaces. The Group has one of the industry's most diverse hospitality ecosystems, encompassing more than 40 hotel brands from luxury to economy, as well as Lifestyle with Ennismore. Accor is committed to taking positive action in terms of business ethics & integrity, responsible tourism, sustainable development, community outreach, and diversity & inclusion.  Founded in 1967, Accor SA is headquartered in France and publicly listed on Euronext Paris (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information, please visit www.group.accor.com or follow us on Twitter, Facebook, LinkedIn, Instagram and TikTok.

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