Accor has launched a global partnership with Faena Group, further expanding its luxury lifestyle portfolio.
Sébastien Bazin, Chairman and CEO of Accor, signed an agreement with Alan Faena and Len Blavatnik of Faena Group to develop the Faena brand in select global destinations, beginning with Dubai.
Faena’s portfolio currently includes hotels in Miami Beach and Buenos Aires, along with residences, art and cultural spaces.
The new global venture will manage Faena Buenos Aires and Faena District Miami Beach, followed by future collaborative projects.
Alan Faena commented:
“We have found in Accor a perfect partner; we have a shared vision and passion. As Faena expands, we plan to continue rethinking hospitality lifestyle and shaping the path for groundbreaking concepts, setting new industry standards in the creation of inimitable environments rooted in culture, positively transforming cities, shifting old paradigms and becoming new international cultural epicenters. It has always been our dream to share the Faena ethos and artistic vision around the globe, and with Accor we are turning this dream into reality.”
Sébastien Bazin added:
“Accor is building an experience-based hospitality platform and in doing so, we greatly value the energy and ideas that entrepreneurs, creators and visionaries bring. Alan Faena is a clear leader in the luxury lifestyle sector with his transformative concepts. Faena Districts are shifting the gravitational centers of the cities where they reside, making a true difference in their communities. These will serve as our model as we work hand-in-hand with the Faena team to help achieve their vision and global expansion ambitions. We look forward to a long and rewarding future working with Alan, Len and the entire Faena group.”
Accor recently unveiled a raft of new hotel openings for this year, with the number of lifestyle hotel developments expected to triple by 2023. The group also recently announced that it would join forces with UK-based developer Ennismore to create a new global lifestyle hotel company, comprising 12 brands.