Global hospitality giant Accor has announced a strategic partnership with Faena Group to expand the luxury lifestyle hotel brand around the globe.
The new venture will encompass the management of Faena Buenos Aires and Faena District Miami Beach, as well as all future projects created in collaboration between Accor and Faena.
Dubai is slated to be the first international destination as part of the expansion of the Faena brand, which was founded by Argentine hotelier and real estate developer Alan Faena.
Commenting on the partnership, Accor chairman and CEO Sébastien Bazin said: “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 centres 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 [Blavatnik] and the entire Faena Group.”
Faena said: “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 epicentres.
“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.”
The partnership has reaffirmed Accor’s strategy to aggressively expand its presence in the lifestyle hospitality sector, having also recently announced the formation of a new entity with Ennismore.