Worldwide: Miami-based Faena Group has entered a strategic partnership with Accor to expand the Faena brand in new destinations around the globe.
Faena, founded by Alan Faena and Len Blavatnik in 2000, operates two mixed-use complexes in Buenos Aires and Miami Beach.
The group’s hospitality concepts, referred to as Faena Districts, comprise hotels, restaurants, residential, retail, and other cultural elements such as art centres and exhibition space.
In signing a deal with Accor, Faena plan to grow its brand globally, with Dubai slated as the first international destination.
Alan 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 new venture will manage Faena Buenos Aires and Faena District Miami Beach, as well as any future projects created in collaboration.
Sébastien Bazin, chairman and CEO, Accor, 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 and the entire Faena group.”
For several years, Accor has been developing its lifestyle division. In 2017, the group introduced a dedicated arm that comprised the Jo & Joe, Mama Shelter and 25hours Hotels brands. One year later and Accor acquired a 50 per cent stake in sbe, adding luxury lifestyle brands Delano, SLS, Mondrian and others into the division.
Most recently, Accor announced an all-share merger with Ennismore to forge a new lifestyle entity. The fully asset-light strategy brings together The Hoxton, Working From_ and Gleneagles brands under Ennismore alongside Accor’s 10 lifestyle brands, including those mentioned above and 21c Museum Hotels and TRIBE.