Camil Yazbeck, Global Chief Development Officer for Accor’s Premium, Midscale & Economy division, will soon visit Australia to speak at AHICE Asia Pacific, taking place at the Adelaide Oval May 7-8 2025. Here, he discusses Accor’s market outlook and opportunities for the Pacific.
In today’s evolving hotel management landscape, what key trends are you observing?
Collection brands continue to attract independent hotel owners. They are drawn to the benefits and scale that an internationally leading hotel group, such as Accor, can deliver, while retaining the unique attributes that have already made their hotels successful. For example, the Hotel Woolstore 1888, Sydney – Handwritten Collection is a brilliant example of a unique property that now has a global platform and loyalty ecosystem through its connection to Accor.
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Branded residences is another category that continues to make big waves. Once dominated exclusively by classic luxury brands, the last several years have seen new offerings from lifestyle brands – such as the wildly successful Mondrian Residences Burleigh Heads on Gold Coast that is part of our Group’s Ennismore collective – and now premium hospitality brands. For example, in Dubai, the Group has Mama Shelter Residences and the first standalone branded residence by 25hours Hotels, which are both part of Ennismore. Other standalone branded residence projects we have underway include Pullman Residences Newton Singapore and Swissôtel Waterfront Residences at Dubai Islands.
Overall, hotels have evolved into so much more than places to stay. Accor has always said our success comes from choosing the right brand for the right location, and today we are building and converting hotels that are so dialed into their communities that they are as appealing to locals – popping in with friends or co-workers – as they are to visiting guests. In fact, it is that local buzz that makes our hotels even more attractive to travellers. By weaving in a dynamic restaurant and bar scene, a top-notch fitness facility, and a series of exclusive events through our platform ALL, Accor excels at delivering an augmented hospitality experience that goes beyond traditional stays.
What are the consistent themes or demands you are hearing from owners?
Hotel owners continue to seek affordable and innovative solutions, which is the core expertise of Accor’s development teams. We not only drive the performance of our partners’ hotel assets, we also successfully extend their management solutions and brands to include elements such as residential, coworking, flexible office space solutions, extended stay options, and compelling F&B.
For an existing property, this might mean rethinking spaces and selectively upgrading visual appeal with an eye to diversify revenue streams and provide more augmented hospitality experiences. By transforming an underutilised lobby into a vibrant café or coworking space, we can create inviting spaces that serve as community hubs, broadening the clientele and driving additional revenue streams. For example, we have installed dynamic workspaces with WOJO at Pullman Abidjan and Mercure Nairobi; and created a vibrant dining destination with Birdie Bar & Brasserie at Novotel Sydney City Center. Our first Novotel Living destinations are now open in Singapore and Bangkok.
For new hotels, there is great demand for the conversion of existing hotels and buildings – including offices, institutions, or private mansions. Not only is this typically more cost-effective than a new build for developers, it supports the environmental, social and governance (ESG) commitments that we share with many of our owning partners.
What are the biggest challenges you see in hotel development landscape today?
The global hotel development momentum remains strong. Accor had another record year in signings and openings, with nearly one hotel opening per day. Here in the Pacific, our hotels enjoy a 45% market share with more than 400 hotels (nearly 64,000 keys) making us number one in the region, and we have a 28% market share in Asia with nearly 500 hotels (around 113,000 keys). This resilience persists despite high interest rates in many regions, which impact lending, as well as geopolitical risks and rising construction costs. Hospitality continues to be a highly attractive asset class. In 2024, transaction volumes showed solid growth, and Deloitte’s Commercial Real Estate Outlook revealed that hotels have moved up from the eighth to the fifth most preferred asset type for investors.
Most importantly, Accor has demonstrated its ability to navigate market volatility with resilience. Our brands are strong, our pipeline remains robust, and we are executing our global strategy with confidence.
What emerging markets for development are on your radar currently?
Accor is always exploring markets that can offer size, growth, and profitability, targeting development opportunities in high potential markets such as Japan, India, Saudi Arabia, as well broader regions such as The Americas, including Mexico and the Caribbean. We recently converted some 23 Grand Mercure and Mercure properties totaling over 6,000 rooms in Japan, as part of a conversion of hotels from Daiwa Resorts to Accor.
On a regional level, Tasmania is a booming location that we are prioritising, along with Fiji for our resort properties. We are continuing to see high demand for high-quality accommodation around Australia’s airports, wave parks, and key tourist destinations.
Generally speaking, the emerging global middle class and their travel aspirations will have a huge impact on shaping the growth of the hospitality market. Over the last decade, the world’s middle-class population has grown by more than a billion people, with the expectation of another 1.3 billion over the next 10 years. Perhaps a quarter will come from India, along with significant populations from Southeast Asia, Mexico and South America – these will be the world travellers driving demand for hospitality in the coming years.
Accor has been actively expanding its premium portfolio – what are the reasons behind this push to premium?
Indeed, signings for Accor’s premium brands – Pullman, Swissôtel, Mövenpick, and Grand Mercure – have increased 150% over the past five years (since 2019). These powerful brands – as well as our popular regional brand, Mantra – deliver high-end guest experiences and strong ROI, making them the top choice for investors. The resurgence of leisure travel and the resilience of business travel are also driving more premium hospitality experiences, along with increasing interest in resort investments. With growing demand for modern ‘bleisure’ experiences, we are introducing new concepts such as ‘The Transforming Room’ that we created at Pullman Singapore Orchard. This high-tech, multifunctional guestroom transitions seamlessly to accommodate guests as they shift between work, wellness, socialising or relaxation.
Pullman, with around 160 hotels globally, is Accor’s flagship premium brand and the world’s first hospitality brand – originating in 1867. Today, Pullman is among the top five premium brands in terms of market share outside the US and we are opening on average 10 new Pullman hotels every year. Across the Pacific, some of our new Pullman destinations underway include Launceston, Perth Airport, and Hamilton, New Zealand. Meanwhile, Mövenpick is ideally positioned as a premium brand poised for high-volume expansion across many geographies, including Greater China, where we signed a master franchise agreement in 2023 to develop 400+ hotels and resorts.
Handwritten Collection has seen strong growth since its launch – what has been key to its success, and how do you see it evolving in the coming years?
Collection brands such as Handwritten Collection represent one of the highest growth rates in the industry today. Designed with owners in mind, Accor’s collection brands, which also include Emblems Collection and MGallery Hotel Collection, are adaptable, light, and respectful of each hotels’ unique identity while offering immediate access to the power of Accor’s sales, distribution, and loyalty platforms. Handwritten Collection – an anthology of carefully curated hotels, each resonating with the warmth and character of its dedicated hosts – was created in 2023 and is already one of world’s fastest growing collection brands, with a portfolio of over 20 hotels globally and more than 30 in development. This year we will open the brand’s second Italian destination, Hotel Giacomo Morra Alba – Handwritten Collection, in the Piedmont region. We are very pleased with the strong start of Handwritten Collection and the response from owners and we look forward to the expansion of this collection for years to come.
Tell us about some of the most exciting developments we can expect from Accor in 2025.
We are very excited about opening several new premium resorts across the Asia Pacific region this year, including Pullman Chennai Anna Salai in India; Mövenpick Resort & Spa Bintan Lagoon and Novotel Jakarta Pulo Mas in Indonesia; Grand Mercure Krabi Ao Nang in Thailand; and Grand Mercure Kuala Lumpur Bukit Bintang in Malaysia. These resorts – which integrate wellness, outstanding cuisine, and entertainment – are strategically located in high-growth leisure markets, benefiting from strong international tourism demand and favorable investment conditions. Other key properties we are looking forward to opening include, ibis Mumbai BKC, Swissôtel Doha Corniche Park Towers, and TRIBE Auckland Fort Street which will mark the debut of the brand in New Zealand.
What is your outlook for the hotels industry more broadly in 2025?
Accor is approaching 2025 with confidence and the ambition to once again turn in a record year. There continues to be huge growth potential in the travel and tourism sector, which currently accounts for over 10% of global GDP. We are in an excellent position, with demand historically outpacing supply. Our ambition, discipline, and high standards are driving us to capture this potential, paired with the strength of our brands and our digital capabilities. Our teams bring global scale and local market knowledge to every project, and whether it’s a conversion or a new build, we find the most direct path to achieving our partners’ financial goals. Working in true partnership, together we are opening the doors to untapped opportunities and building the experiences that shape the places travelers and locals want to visit.