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doesn ’ t mean that there aren ’ t opportunities , but you have to be very surgical and very focused ,” said Martine Gerow , group CFO for Accor , which is unequivocal when it discusses growth in the U . S .: it will come through its luxury and lifestyle brands , which account for the entirety of its U . S . pipeline .
Luxury and lifestyle is far different , if not also distinct in category and class , making the mode of growth dissimilar to that of Accor ’ s PME brands . Accor manages some of the most spectacular and legacy hotels in the world . Under its Fairmont flag , for instance , it manages the famed Plaza , along New York ’ s Central Park . Its Raffles brand is known the world over for its ultra-luxury accommodations , including those at Le Royal Monceau Raffles Paris , a Philippe Starck design . In Canada , Accor has more
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than 20 Fairmont properties , many of which are ski resorts . In October 2021 , Accor and Ennismore completed a joint venture , which created a lifestyle monolith , with such brands as The Hoxton , SLS , SO /, Mondrian , Delano and 21C Museum Hotels . “ The opportunity to significantly increase our footprint in the U . S . is on luxury and lifestyle ,” Morin said .
Consider the Raffles brand : Twenty-one exist in the world and the opening of Raffles
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Boston , in September 2023 , the only Raffles in the U . S ., was one of the most anticipated luxury hotel openings of the year . Gerow said the Raffles brand is a focus for development . In February , Accor announced Raffles Trojena , set to open in Saudi Arabia in 2027 as part of NEOM , a new urban area planned by the Kingdom of Saudi Arabia that is being built up on the northwestern Tabuk Province .
Accor plays it closer to the vest at this end of the
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brand spectrum , less inclined to surrender control over operations . “ We are much more protective ,” Morin said , “ because what we really want to ensure is that we protect the brand equity and the best way to do that is by getting a management contract , as you ’ ve got much more interaction with the owner .”
Accor doesn ’ t shy away from being open about its growth prospects , but in order to protect brand equity , it ’ s equally frank about its attrition plans
WE DON ’ T WANT TO CHURN PROPERTIES , BUT WE EXPECT OWNERS TO SPEND A BIT
– MARTINE GEROW , GROUP CFO
FOR ACCOR
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36 hotelsmag . com May / June 2024 |