Accor group is one of the largest hotel companies in the world. Brands include Sofitel, Fairmont, Raffles, Swissotel, SLS, Mövenpick and many others. There are over 3,700 hotels in total. Directional aviation is one of the largest providers of business aviation worldwide. Brands include Flexjet, Sentient, FXAIR, PrivateFly and Constant Aviation. AccorJets claims to be owned by the Paris hotel group and “part of the Directional Aviation portfolio”. It also promises something that individual private jet owners seldom see – profits.
AccorJets claims to be owned by the Accor Group, owners of brands such as Raffles, Fairmont, Swissotel … [+]
AFP via Getty Images
A Press release AccorJets, released last week, called AccorJets “Europe’s largest partial ownership operator”. It promoted a program called FlyEvolution, which allows you to diversify away from market volatility and own a piece of a hard, tangible asset that generates an exceptional return.
She appoints the CEO of the hotel group as head of AccorJets and quotes Sébastien Bazin in the press release. Its program is said to be “initially aimed at companies and very high net worth individuals based in Asia, Africa, North America, South America, Europe and Australia”. Well, that’s pretty much everywhere.
“After consulting our operations team, it appears that (AccorJets) is not a legitimate program and is not affiliated with Accor. Our legal department is currently investigating the matter. “
– Spokesman for the Accor Group
It’s a growing company. “AccorJet’s offering also includes 2 Bombardier Global 7500s, 2 Gulfstream G550s, 2 Gulfstream G650s, 2 Cessna Citation Latitude. AccorJets also has a letter of intent for the Gulfstream G650, Praetor 600 and 2 Airbus ACJ TwoTwenty, ”the statement said.
A large hotel group entering the rapidly growing private aviation segment might make sense. The financial opportunity is described as “a program that allows individuals and investors to purchase a partial ownership micro-share in one of our jets for a limited period of time in exchange for dividends based on the net income of each jet.”
It also promises quick returns. A question-and-answer section on how quickly you can get your first payback period: “Depending on whether you are buying a share in a jet that we already own or a jet that is being acquired, you can Your dividends will be received no later than 15 days after you have acquired the ownership interest. “
In addition, it says: “The risk factor is completely eliminated by our guarantee to buy back your share in the event of liquidation.”
The potential profits would surprise many in the industry. The brochure says: “The net turnover of a jet is between 5 and 20 million euros for a medium-sized jet and even up to 100 million euros for large, heavy jets.”
There’s only one problem. Executives from Accor, the hotel group, and Directional Aviation have never heard of the company.
An Accor spokesperson said: “After consulting our operations team, it appears that (AccorJets) is not a legitimate program and is not affiliated with Accor. Our legal department is currently investigating the matter. ”
A spokesman for Directional also says that despite the gratuitous use of images and references to features of the Flexjet faction stock program like stylish interiors, there is no connection to the website. The AccorJets website states: “In 2015 we introduced Red Label by AccorJets, a revolutionary concept that includes the youngest fleet in the industry, dedicated flight crews and our exclusive LXi Cabin Collection ™ ️.” These are actually Flexjet concepts.
AccorJets is not after little money. A Gulfstream G650 sells from around $ 65 million, so a quarter of that would cost an investor around $ 16 million.
ICANN search shows the website was registered through Cheaphosting.com on March 15, 2021. The edited owner may be based in Iceland. Attempts to contact AccorJets were unsuccessful.
The story was first narrated by Compare to private jet cardswhere I work as an editor.
