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 flight 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 that is rarely seen by individual owners of private jets – profits.
ONE Press release issued last week, AccorJets claimed to be “Europe’s largest fractional ownership operator.” It proclaimed a program called FlyEvolution, which “allows you to diversify away from market volatility and own a piece of hard, tangible asset that generates a unique return.”
It names the hotel group’s CEO as head of AccorJets and quotes Sébastien Bazin in the release. It says its program “was originally aimed at companies and ultra-high and high net worth individuals based in Asia, Africa, North America, South America, Europe and Australia.” Well, it’s pretty much everywhere.
“After consulting with our operations team, it appears (AccorJets) is not a legitimate program and it is not affiliated with Accor. Our legal team is currently investigating the case. ”
-Accor Group spokesman
It is a growing company. AccorJet’s line-up also includes 2 Bombardier Global 7500, 2 Gulfstream G550, 2 Gulfstream G650, 2 Cessna Citation Latitude. AccorJets also has a letter of intent for the Gulfstream G650, Praetor 600 and 2 Airbus ACJ TwoTwenty, ”according to the release.
A large hotel company jumping into fast rebounding private aviation segment might seem to make sense. The economic opportunity is described as “a program that allows individuals, individuals, investors to buy a micro-share in part of our jets for a limited period and in return receive dividends based on the net return generated by the respective jets. ”
It also promises fast returns. A question and answer section on how quickly you get your first repayment notes, “Depending on whether you are buying a stock in a jet that is already in our ownership, or in a jet that is in the process of being acquired, you can start receiving your dividend as soon as 15 days from your purchase of the stake. ”
In addition, it reports: “The risk factor is completely eliminated by our guarantee of repurchasing your stock if you wish to settle.”
The potential profit would surprise many in the industry. The brochure claims, “The net value generated by a jet is in the range of 5 million euros to 20 million euros for a medium-sized jet and even as high as 100 million euros for large, heavy jets.”
There is only one problem. Managers of both Accor, the hotel group and Directional Aviation have never heard of the company.
A spokesman for Accor says, “After consulting with our operations team, it appears (AccorJets) is not a legitimate program and it is not affiliated with Accor. Our legal team is currently investigating the case. ”
A spokesman for Directional also says there is no connection to the site, despite its immense use of images and reference to features in the Flexjet fractionated stock program, such as stylish interiors. The AccorJets website claims, “In 2015, we introduced a revolutionary Red Label concept by AccorJets, featuring the industry’s youngest fleet, dedicated flight crews, our exclusive LXi Cabin Collection ️ ️.” These are actually Flexjet concepts.
AccorJets is not after small money. A Gulfstream G650 sells from around $ 65 million, so a quarter will cost an investor around $ 16 million.
ICANN listings show that the site was registered on March 15, 2021 via Cheaphosting.com. The edited owner may be based in Iceland. Attempts to contact AccorJets failed.
The story was first reported by Private Jet Card Comparisons, where I work as an editor.