Sofitel completes its luxury portfolio to mark its 60th anniversary

The Sofitel brand, owned by the Accor group, is launching a new ambitious strategy to revitalize its portfolio and enhance its luxury image in 2024. Under the leadership of CEO Maud Bailly, a global expansion project is underway. On the agenda: new openings, the modernization of marketing positioning, and highlighting French luxury criteria.

Since the late 2000s, Accor has chosen Sofitel as the ambassador label for its luxury category. The group then expanded the premium offer to other brands such as Fairmont, Raffles, and Swissôtel, which were acquired in 2015 from the Canadian group FRHI for a total amount of 2.6 billion euros. Today, Sofitel manages 120 properties worldwide. Eighteen renovations are planned or underway, representing 20% of the Sofitel network, and three hotels in China have been removed from the portfolio for failing to meet the required standards.

The first Sofitel property opened its doors on June 26, 1964, in Strasbourg, a name corresponding to the acronym SOFITEL for Société Financière d’Hôtellerie (with SO for company, FI for financial, and TEL for hotel). Under the leadership of CEO Sébastien Bazin in 2013, the Accor group found a new momentum, allowing the hotel chain to integrate the most modern and exclusive range in the luxury segment.

In 2024, Sofitel will open a new hotel in Jaipur, Rajasthan, India, offering 50 suites, each with its own private pool. In Europe, the brand will also inaugurate a property in Prague, while a major project is planned in Spain, where the brand is currently absent. The group plans new openings in China, Africa (Benin), and Saudi Arabia. Sofitel's management expects to reach 150 properties by 2027.

In 2023, the Accor group's turnover reached 5.06 billion euros, an increase of 18% compared to the previous year. The luxury and lifestyle division made a positive leap of 22%, accounting for 41% of the total turnover, exceeding financial analysts' forecasts. With these results, Accor anticipated an annualized growth of 9% to 12% for the period 2023-2027, counting on the recovery of leisure and business travel after the pandemic and major events such as the Paris Olympics during the summer of 2024.