Accor making major changes to its structure.....

Accor continues to transform and simplify its structure by leveraging its leadership positions in the most buoyant hospitality markets and segments.

 Accor, global hotel operator and leader in Luxury & Lifestyle hospitality, operates a unique portfolio of brands covering all segments, from economy to luxury, in 110 countries. The Group is evolving its structure to capitalize on the transformation undertaken in recent years, consolidate its leadership positions, focus its efforts, strengthen its know-how, accelerate its growth and continue to improve its profitability. As such, Accor will leverage two divisions comprising separate and distinctive expertise with the aim of further strengthening the excellence of each of these business lines, improving their operational and financial performance, offering their owners and guests ever more relevant products and services, and attracting the best talents. From October 1, 2022, Accor will be structured around two dedicated divisions:

* “Economy, Midscale & Premium Division”, comprising notably the Group’s brands ibis, Novotel, Mercure, Swissôtel, Mövenpick and Pullman, covering 4,816 hotels worldwide and 948 new properties in development. This division will incorporate leadership positions in Europe, Latin America, Asia-Pacific and the Middle East, and will be structured around four regional headquarters based in Paris, Sao Paulo, Singapore and Shanghai. It will focus its strategy on accelerating its development notably through franchises, the rejuvenation of its brands and the industrialization of our operating model.

 

* “Luxury & Lifestyle Division”, bringing together Accor’s luxury brands as well as the Group’s lifestyle entity, Ennismore, and covering 488 hotels globally and 266 new properties in development. This division focused on Luxury and Lifestyle will be structured by brand around 4 pillars: Raffles & Orient Express, Fairmont, Sofitel & MGallery, and Ennismore. It will be committed to strengthening the identities of its iconic brands, investing in top talents, selecting the best locations and offering unique and innovative experiences.

Through these two business divisions incorporating growth strategies and trajectories that have been clearly defined and tailored to guest and owner expectations, Accor will offer its partners and investors a clear and transparent model for each of its business lines, which will be a factor in creating value and ramping up the development of its brands and segments.

According to Sébastien Bazin, Accor Chairman and CEO, “Changing our organizational structure is a natural step in the transformation initiated several years ago, which turned Accor into an asset-light group that is more agile and efficient, with a global profile and which has become a key player in Luxury and Lifestyle. By evolving from a generalist to a multi-specialist model, our aim is to further improve Accor’s appeal in the eyes of talents, owners, partners and investors. We capitalize on our leadership positions to accelerate our development, better focus talents and expertise, and improve our performance.”.

This organizational structure is submitted to the Group’s employee representative bodies. 

Zrou and hotel group ALL - Accor Live Limitless partner together for first-of-its-kind plant-based creative menu concept to bringing gastronomic modernization to the culinary scene across Greater China.

ALL – Accor Live Limitless and Zrou have announced their partnership to bring innovation to the dining arena in hospitality. This first-of-its-kind cooperation aims to launch a plant-based creative menu concept across Accor branded hotels as part of a substantial step toward the two parties’ commitment to bringing gastronomic modernization to the culinary scene across Greater China.

A private, gourmet launch event was held at the Fairmont Peace Hotel Shanghai to celebrate this unique partnership. On July 15, ALL and Zrou invited five celebrity chefs including chef, restauranteur, entrepreneur and social influencer David Laris, a pioneer in modern Chinese cuisine who famously brings together modern and traditional culinary concepts, Jereme Leung, award-winning creative chef, fashion and gourmet icon Lance Yu, Zrou Executive Chef, Director of Product Development with a focus on plant-based dining creative, Mark Sampson, and French Pastry Chef Sarah Ni and China’s most famous Masters of Wine, Fongyee Walker to curate a gourmet tasting experience “Table Number Zrou” for an exclusive set of VIP guests including key media and influencers.

Accor to open new Pullman hotel in Dubai

Photo: AETOSWire

Twenty14 Holdings, a Abu Dhabi-based hospitality company has partnered with hotel giant Accor, to open a new Pullman hotel at Dubai's Business Bay.

“We are pleased to partner with Accor and be part of their strong footprint and network in the region,” said Adeeb Ahamed, Managing Director of Twenty14 Holdings. “Pullman is aligned with our expectations and vision as an asset owning company, and with Accor’s loyalty program and management expertise, we are confident that guests at our property will get to experience the best of global hospitality.”

Located in Business Bay, the hotel offers stunning views of the Dubai Canal, the Dubai Skyline and the iconic Burj Khalifa. Business Bay is near Dubai International Financial Center (DIFC), as well as the Dubai International Convention & Exhibition centre.

Accor and BNP Paribas become strategic partners to launch a co-branded payment card in Europe

Accor, a world leader in hospitality, and BNP Paribas, the leading bank in the eurozone and a key international banking player, announce that they have concluded a pan-European partnership to launch a unique co-branded payment card. Members of the ALL-Accor Live Limitless lifestyle loyalty program who subscribe to the card will be able to use it for all their day-to-day purchases. Linking up with one of the sector’s best loyalty programs, card users will earn points as soon as they start spending, upgrade to a higher status more quickly, and enjoy special and unforgettable experiences both in the Group’s hotels and across the entire Accor ecosystem.

With over 50 hotels in the pipeline, Accor intensifies the development of its lifestyle brands

TRIBE will arrive in Paris this fall, followed by Amsterdam, Warsaw and other launches planned for key gateway cities such as London, Berlin, Brussels, Lisbon, and Vienna in Europe to start...

Accor is stepping up its ambition in the lifestyle sector with TRIBE, a rapidly expanding midscale brand, which is exceeding initial expectations and planning to open more than 50 hotels globally... In Europe, in addition to Paris, Amsterdam or Warsaw where hotels have already been signed, projects in iconic locations such as Berlin, London Brussels, Lisbon and Vienna are currently being finalized. Over the next five years, the brand is planning to open a total of 150 hotels worldwide aimed at a new generation of travelers in search of refined yet affordable experiences.

 

“Accor is a global leader in the lifestyle segment, thanks to its 11 disruptive brands, including TRIBE and its 50 hotels in the pipeline. The brand is going from strength to strength and is continuing its international expansion with the development of numerous projects. In line with the Group’s growth targets, TRIBE has established itself as the new standard in the world of lifestyle hospitality” said Gaurav Bhushan, Chief Development Officer, Accor.

 

More credit for Accor

Accor has announced that it has signed an agreement with a consortium of 5 banks for a new €560m Revolving Credit Facility (RCF). It complements the undrawn €1.2bn RCF signed in July 2018. It further reinforces Accor’s liquidity position which today exceeds €4.0bn, i.e. more than 40 months under the current market conditions:

€2.5bn available cash at-hand as of end-March 2020
€1.2bn RCF signed in July 2018 - undrawn
€0.56bn as per the new RCF - undrawn

The new fully committed facility has a 12 months tenor, with two six-months extension options in the hands of Accor and has neither covenant nor restriction. It has been underwritten by the following 5 banks: BNP Paribas, Crédit Agricole CIB, Crédit Industriel et Commercial, Natixis and Société Générale. This reflects the renewed trust of Accor’s core banks its business profile and strong balance sheet.