AccorJets Claims To Be Owned By French Hotel Company Accor – It’s Not
Accor Group is one of the largest hotel companies in the world. Its brands include Sofitel, Fairmont, Raffles, Swissotel, SLS, Movenpick and many others. In total, there are over 3,700 hotels. Directional Aviation is one of the largest business aviation providers in the world. Its brands include Flexjet, Sentient, FXAIR, PrivateFly and Constant Aviation. AccorJets claims to be owned by the Paris-based hotel group and “part of the Directional Aviation portfolio.” It also promises something rarely seen by individual owners of private jets – profits.
A press release issued last week claimed AccorJets as “Europe’s largest fractional ownership operator.” It touted a program called FlyEvolution, which “allows you to diversify away from the market volatility and own a piece of a hard, tangible asset that generates an exceptional return.”
It names the hotel group’s CEO as head of AccorJets and quotes Sébastien Bazin in the release. It says its program is “targeted initially at companies and ultra high and high net-worth individuals based in Asia, Africa, North America, South America, Europe, and Australia.” Well, that’s pretty much everywhere.
“After consulting with our operations team, it looks like (AccorJets) is not a legitimate program, and it is not associated with Accor. Our legal team is currently investigating the matter.”
-Accor Group spokesperson
It’s a growing company. “AccorJet’s line-up also includes the 2 Bombardier Global 7500, 2 Gulfstream G550, 2 Gulfstream G650, 2 Cessna Citation Latitude. AccorJets also has a letter of intent for Gulfstream G650, Praetor 600 and 2 Airbus ACJ TwoTwenty,” according to the release.
A major hotel company jumping into the fast-growing private aviation segment could seem to make sense. The financial opportunity is described as “a program that allows private, individuals, investors to buy a fractional ownership micro share in one of our jets, for a limited period of time, and in return get paid dividends based on the net returns generated by the respective jet.”
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It also promises fast returns. A question and answer section about how soon you will get your first payback touts, “Depending on if you buy a share into a jet already in our ownership or into a jet that is in the process of being acquired, you can start receiving your dividends as soon as 15 days from your purchase of the ownership share.”
Moreover, it reports, “The risk factor is completely eliminated by our guarantee to buy back your share if you wish to liquidate.”
The potential profits would surprise many in the industry. The brochure claims, “The net revenue generated by a jet is in the range of €5 Million to €20 Million for a mid-size jet and even as high as €100 Million Euro for Large, Heavy Jets.”
There’s just one problem. Executives of both Accor, the hotel group, and Directional Aviation have never heard of the company.
A spokesperson for Accor says, “After consulting with our operations team, it looks like (AccorJets) is not a legitimate program, and it is not associated with Accor. Our legal team is currently investigating the matter.”
A spokesperson for Directional also says there is no connection to the website, despite its gratuitous use of images and reference to features in the Flexjet fractional share program such as stylish interiors. The AccorJets website claims, “In 2015, we introduced a revolutionary concept in the form of Red Label by AccorJets, featuring the industry’s youngest fleet, dedicated flight crews, our exclusive LXi Cabin Collection™️.” Those are actually Flexjet concepts.
AccorJets is not after small money. A Gulfstream G650 sells from around $65 million, so a quarter share would cost an investor around $16 million.
ICANN lookup shows the website was registered on March 15, 2021, via Cheaphosting.com. The redacted owner is possibly based in Iceland. Attempts to contact AccorJets were unsuccessful.