Faena and Accor, which has a portfolio of greater than 5,000 properties throughout a myriad of manufacturers in 110 international locations, have partnered to broaden the Faena model to strategic locations worldwide—one thing the model has been planning since not less than 2018. The announcement was made Tuesday by Alan Faena and Len Blavatnik of Faena Group, along with Sébastien Bazin, chairman and CEO of Accor.
Alan Faena will work with Accor to interrupt new floor and develop Faena Districts in choose locations worldwide. This new enterprise, in line with Faena, will change into a catalyst for exponential development for the model. Dubai is slated to be the primary worldwide vacation spot.
The brand new enterprise will handle Faena Buenos Aires and Faena District Miami Seashore, in addition to all future initiatives created in collaboration collectively. This endeavor will end in pioneering companies focusing on the event of socially accountable, holistic environments, anchored in cultural experiences, starting from residences and inns, artwork and cultural areas.
Alan Faena referred to as Accor the “excellent associate” in a press announcement, noting their “shared imaginative and prescient and fervour.”
The transfer additionally made sense for Accor, which has been constructing an experience-based hospitality platform. Late in 2020, Accor, as a part of its asset-light technique and with the ambition of accelerating its development within the “way of life” hospitality sector, signed binding agreements on a brand new sbe Group’s possession construction. Underneath the agreements, Accor would take full possession of sbe lodge manufacturers together with the Delano, Mondrian, SLS and Hyde, together with most of sbe’s meals and beverage manufacturers
This announcement comes on the heels of a bigger, unique negotiation with Ennismore, an proprietor and developer of hospitality properties. By this all-share merger, a brand new autonomous and totally asset-light entity brings collectively a portfolio of manufacturers additionally together with The Hoxton, Gleneagles, SO/, Mama Shelter, 25hours, 21c Museum Motels, Tribe, Jo&Joe and Working From_.