Accor signs partnership with Faena Group
Faena Group is entering into a strategic partnership with Accor which will see the global hospitality giant accelerate growth of the lifestyle hotel brand into “strategic destinations worldwide”.
Alan Faena and Len Blavatnik started their brand in 2000, with a focus on projects that integrate residences, hotels, art and cultural spaces into the development of Faena Districts, which include Faena Buenos Aires and Faena District Miami Beach.
The new venture includes management of the two hotels, as well as all future projects created together, with all Faena hotels integrated into Accor’s global distribution network and sitting within its lifestyle division.
Accor’s chairman and chief executive Sebastien Bazin has stated previously he sees the lifestyle sector as becoming “the engine of our exciting future growth”.
Dubai is slated to be the first international destination, and Alan Faena said he will work in partnership with Accor to “break new ground”, developing Faena Districts in select global destinations as the two companies look to achieve “exponential growth”.
“It has always been our dream to share the Faena ethos and artistic vision around the globe, and with Accor we have found a perfect partner to turn this dream into reality; we have a shared vision and passion,” said Faena.
This move follows other recent developments in the lifestyle space for Accor, with the signing of a new deal with Ennismore – creator of the Hoxton brand – last year.
Accor is now creating a new lifestyle hospitality entity in collaboration with Ennismore, likely to be finalised in Q2 2021. Following that, Faena will be operated in partnership within the new entity, becoming a “jewel in the crown” of the platform’s ultra-luxury segment.
“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,” said Bazin.
“Faena Districts are shifting the gravitational centres of the cities where they reside, making a true difference in their communities,” he added. “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.”
Faena’s work also includes support of the independent non-profit Faena Art which commissions site-specific projects; Faena Prize, which supports and commissions artists around the world; and Faena Theater, which creates content and live productions in both districts. During the pandemic, he also wrote Architecture of Being, due to be published by Rizzoli in September.
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