Following the takeover of the Citéa network last summer, this brand will disappear to give birth to Adagio Access, a new brand based on a range of around fifty residences on the outskirts of major cities and in secondary towns in France.
Although less refined than its big sister, the new brand will be aligned with the fundamentals of Adagio City, with degressive rates, a kitchenette in every flat, free internet access and a whole range of optional services. All the while benefiting from the reservation system set up by Pierre & Vacances and Accor, the co-owners of Adagio. This expansion in the budget segment brings the total number of flats in France and Europe to 10,000. Around twenty new Adagio Access properties are planned between now and 2015, for a total of almost 130 residences in ten different countries.
This gives it a head start in an urban residential market that has not yet reached maturity in Europe. Today, according to Deloitte, in France alone, 64% of total capacity is held by eleven operators, and supply has grown by 40% over the last four years.
