Accor headquarters in Paris . |
The Accor the hospitality industry has gotten to know is a rapacious group , habitually on the hunt , stalking its next brand prey . The Paris-based hotel company has more than 52 brands today across a wide range of core and adjacent businesses , in segments from budget up to ultra-luxury . Back in 2022 , owing to the volume of brands , Accor decided to reorganize its structure along two divisions : Luxury & Lifestyle and Premium , Midscale & Economy . Within each division , Accor appointed CEOs to lead each of the brands , reporting up to Sébastien Bazin , Accor group chairman and CEO , and Jean- Jacques Morin , group deputy CEO and also CEO of the Premium , Midscale & Economy division . For a company with such a voracious appetite as Accor , it has been quiet of late on the M & A front : it has not made a large-scale acquisition in the last 12 months ; not out of complication , but rather strategy , standing pat on what it has , Morin recently explained
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from his company ’ s New York office . “ We have everything we need right now ,” Morin said . “ The next step is to get the juice out of what we ’ ve been consuming for the past 10 years and we believe that the organization , as it is , with two divisions , is the right way . We ’ re exactly where we want to be , executing on those two poles , and getting the juice that we have not gotten over the last years .”
It ’ s a lot of pulp to squeeze , but wring it Accor has done , pressing out record results in 2023 , with EBITDA exceeding € 1 billion . And with major sporting events across Europe this year , including the Paris
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Olympics and UEFA Euro 2024 , there ’ s ample reason why Bazin said : “ We are blessed for the next 12 months .”
MISE EN SCÈNE Accor is a global company though its brand spread would be considered regional . Consider its Premium , Midscale & Economy ( PME ) category , where the vast majority of brands , from Pullman to Mövenpick , Mercure to Tribe , ibis to HotelF1 , are located outside North America , across Europe , Asia Pacific and South America . It ’ s within the PME space that Accor sees more opportunity at expansion through franchising ,
A guestroom at Raffles Boston in the city ’ s Back Bay neighborhood .
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May / June 2024 hotelsmag . com 33 |