Accor

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Accor S.A.
Company typeSociété Anonyme
Euronext: AC, LSE: 0H59
CAC 40 Component
ISINFR0000120404 Edit this on Wikidata
IndustryHospitality, tourism
Founded1967; 57 years ago (1967)
HeadquartersParis, France
Key people
Sebastien Bazin (Chairman and CEO)
ProductsHotels and resorts
Revenue€5.45 billion (2014)[1]
€578 million (2014)[1]
€223 million (2014)[1]
Total assets10,669,000,000 Euro (2021) Edit this on Wikidata
Number of employees
240,000 (2016)[2]
Websitewww.accorhotels.group

Accor S.A., using the brand name AccorHotels, is a French multinational hotel group,[3] part of the CAC 40 index,[4] which operates in 95 countries.[5]

Headquartered in Paris, France, the group owns, operates and franchises 3,700 hotels (spanning all inhabited continents) representing several brands, from budget and economy lodgings to five-star hotels.[6]

History

In 1967, Paul Dubrule and Gérard Pélisson founded the Société d'investissement et d'exploitation hôteliers (SIEH) hotel group and opened the first Novotel hotel outside Lille in northern France.[7]

In 1974, they launched the Ibis brand with the opening of the Ibis Bordeaux.[7] The following year, SIEH acquired the Courtepaille and Mercure brands, and in 1980 the Sofitel hotel brand, which then consisted of 43 hotels.[7] In 1982, the SIEH bought Jacques Borel International, the then world-leading brand offering restaurant vouchers.[7]

In 1983, the group, which had restaurant tickets and hotels, changed its name to the Accor Group.[7] In 1985, it launched Hotel Formule 1 brand, offering basic accommodation at low prices.[8]

In 1990, it entered the North American market by acquiring Motel 6,[9] and later the Red Roof Inn chain, which it later sold to The Blackstone Group and a consortium of Citi’s Global Special Situations Group and Westbridge Hospitality Fund, L.P.,[10] respectively.

In the 1990s, it diversified to include Accor Casinos and in 2004, bought a nearly 30 per cent stake in Club Méditerranée.[11]

In June 2010, the shareholders of Accor approved the demerger of its hotel and voucher businesses. Accor Services became Edenred. The two entities started trading as separate companies on the Paris stock exchange from 2 July 2011.[12] In 2011, Accor introduced its new brand positioning with the slogan "Open new frontiers in hospitality".[13]

In November 2013, the firm redefined its group business model on two core competencies: hotel operator and brand franchisor (HotelServices), and hotel owner and investor (HotelInvest).[14]

In October 2014, Accor transferred management of its Central European operations to Orbis.[15] In December 2014, it announced an alliance with Huazhu (China Lodging) to accelerate expansion in China.[16]

In June 2015, Accor became AccorHotels and adopted the new slogan "Feel Welcome".[17]

In December 2015, Accor announced the purchase for US$2.9 billion in cash and shares of FRHI Hotels & Resorts, the owner of the Fairmont, Raffles, and Swissôtel chains. The transaction adds landmark properties such as the Savoy Hotel in London, Raffles Hotel in Singapore and the Plaza Hotel in New York to Accor's luxury and high-end hotel portfolio.[18]

In 2016, AccorHotels acquired John Paul, a concierge services.[19]

In October 2017, AccorHotels acquired the Australia-based Mantra Group for A$1.2 billion, adding 127 properties under the Mantra, Peppers and Breakfree brands. The deal will make AccorHotels the largest hotel operator in Australia.[20][21]

Management

In 2006, Gilles Pélisson, nephew of Accor co-founder Gerard Pélisson, took over the group as CEO, replacing former CEO Jean-Marc Espalioux.[22] Accor appointed Serge Weinberg, head of Weinberg Capital Partners, chairman of the supervisory board.[23] In February 2009, Pélisson was appointed chairman and CEO.[24] Pélisson was co-vice-president of the Novotel brand in 1994.[25]

In 2009, Denis Hennequin joined the group's board of directors and replaced Pélisson as CEO in January 2011.[26] Hennequin stepped down in April 2013, and Yann Caillère was appointed CEO for a transitional period.[27] In August 2013, Sebastien Bazin was named Chairman and CEO, replacing Caillère, who left the group.[28]

Offices/Contact Centres

File:Accor HQ.jpg
Head office, 110 avenue de France [fr], Paris 13th arr

The company's head office, which houses the company's executive management, is located in the Immeuble Odyssey in the 13th arrondissement of Paris, France, [29] the company's registered office.[30] The seven storey, 14,000-square-metre (150,000 sq ft) building was designed by British architect Norman Foster and features glass plates in its façade. Géraldine Doutriaux of Le Parisien called it "[u]n bel immeuble lumineux" ("a beautiful, bright building").[31]

The company's other major office facility,[29] and former registered office,[30] is located in Courcouronnes,[32] Essonne, near Évry, France.[29]

The Tour Maine-Montparnasse in Paris' 15th arrondissement once housed the executive management of Accor.[33]

After AccorHotels merged with FRHI Hotels & Resorts in 2016, the FRHI Global Reservation Centre in Moncton, New Brunswick, Canada, is now known as AccorHotels Global Reservation Centre. They are the primary AccorHotels Contact Centre Operations for room reservations for all AccorHotels brands.

Economy and budget brands

Former economy and budget hotels

  • Red Roof Inn: Accor acquired Red Roof Inn in 1999 for $1.115 billion, increasing its presence in North America. In April 2007, the firm sold the majority of its interests in Red Roof Inn to Citigroup Global Special Situations Group and Westbridge Hospitality Fund LP for $1.3 billion. Accor retained some hotels for rebranding into its Motel 6 brand.[10]
  • Motel 6 and Studio 6: Accor purchased Motel 6 in 1990. In October 2012, Accor finalized the sale of its 1,102 US Motel 6 and Studio 6 hotels to Blackstone.[34]

Midscale brands

Pullman at Sydney Olympic Park (left) and Novotel Sydney Olympic Park (right)
  • Mercure Hotels (3 to 4 star hotels) is the largest of Accor's midscale brands, found internationally with 732 hotels and resorts in 55 countries.[35]
  • Adagio

Upscale brands

Luxury brands

SO Sofitel Bangkok, as seen from Lumpini Park

Thalassa sea and spa

Thalassa sea and spa: prestige seaside destinations with 15 destinations, 14 thalassotherapy sites, 19 hotels, 4 countries.[36]

Lenôtre: in July 2011, Accor sold its stake in Lenôtre.[37]

Controversy

In May 2013, the online investigations company KwikChex identified Peter Hook, Accor’s Australia-based director of communications for its Asia-Pacific region, as having posted more than 100 reviews of both Accor-operated hotels and competing properties on TripAdvisor.[38][39]

See also

References

  1. ^ a b c "2014 Results" (PDF). Accor. Retrieved 18 February 2015.
  2. ^ "Essential UK" (PDF). Accor.
  3. ^ "2011 European Hotel Group Ranking". HospitalityNet. 11 March 2011. Retrieved 17 October 2014.
  4. ^ "CAC 40". CNNMoney. Retrieved 17 October 2014.
  5. ^ "Accor Worldwide". Accor.com. Retrieved 17 October 2014.
  6. ^ "Accor in brief" (PDF). Accor.com. January 2011. Retrieved 17 October 2014.
  7. ^ a b c d e "Gerard Pelisson". British Travel and Hospitality. 13 April 2015. Retrieved 29 May 2015.
  8. ^ "F1". Hotel. Accor. Retrieved 17 October 2014.
  9. ^ Furlong, Tom (13 July 1990). "French firm to acquire Motel 6". Los Angeles Times. Retrieved 18 October 2014.
  10. ^ a b "Accor sells Red Roof Inn unit for $1.32 bln". Reuters. 23 April 2007. Retrieved 17 October 2014.
  11. ^ Clark, Nicola (12 June 2004). "Accor buys stake in Club Med". The New York Times. Retrieved 17 October 2014.
  12. ^ "Accor demerger approved by shareholders". Breakingtravelnews.com. 30 June 2010. Retrieved 17 October 2014.
  13. ^ "Accor Launches New Operational Strategy with Major Changes Focused on Brands". Hotel-online.com. 13 September 2011. Retrieved 17 October 2014.
  14. ^ "A new strategy to enhance growth and sustained value creation" (PDF) (Press release). Accor.com. 27 November 2013. Retrieved 17 October 2014.
  15. ^ "Accor offers to transfer management of its Central European operations to Orbis" (PDF). Accor.com. 21 October 2014. Retrieved 8 January 2015.
  16. ^ "Groundbreaking alliance between Accor and Huazhu (China Lodging) creates a hotel giant in China" (PDF). Accor.com. 14 December 2014. Retrieved 8 January 2015.
  17. ^ "Accor becomes AccorHotels and asserts its desire to make everyone "Feel Welcome"" (PDF). Accor.com. 3 June 2015. Retrieved 3 June 2015.
  18. ^ Thompson, Adam (9 December 2015). "Accor buys Raffles owner for $2.9bn". Financial Times. Retrieved 11 December 2015.
  19. ^ "AccorHotels finalizes acquisition of John Paul, the world leader in the concierge market". AccorHotels. 16 November 2016. Retrieved 16 November 2016.
  20. ^ Norris, Glen (12 October 2017). "Accor's takeover of Mantra will create biggest hotel group in Australia". The Courier-Mail. Retrieved 11 December 2017.
  21. ^ Jabos, Sam (12 October 2017). "Mantra's board has approved a $1.2 billion sale to AccorHotels". Business Insider Australia. Retrieved 11 December 2017.
  22. ^ "All in the family". The Economist. 13 October 2005. Retrieved 17 October 2014.
  23. ^ "Accor: Supervisory Board Release". HotelExecutive.com. 11 October 2005. Retrieved 17 October 2014.
  24. ^ "ACCOR: Gilles Pélisson, Chief executive Officer, Appointed Chairman of the Board" (Press release). Accor Hotels. 24 February 2009. Retrieved 17 October 2014.
  25. ^ "Accor Timeline". The Caterer. Retrieved 17 October 2014.
  26. ^ "NewsLog". BusinessTravelNews. 3 November 2010. Retrieved 17 October 2014.
  27. ^ "Press release from Board of Directors" (PDF) (Press release). Accor.com. 23 April 2010. Retrieved 17 October 2014.
  28. ^ "Sébastien Bazin appointed as Chairman and CEO" (PDF). Accor.com. 23 August 2013. Retrieved 17 October 2014.
  29. ^ a b c "Address book". Accor. Retrieved 17 October 2014. Executive Management Immeuble Odyssey 110 avenue de France 75210 Paris cedex 13 France" and "Accor 2, rue de la Mare-Neuve 91021 Evry Cedex France
  30. ^ Doutriaux, Geraldine (8 January 2007). "La ZAC Paris-Rive-Gauche, nouvelle adresse de prestige" [The ZAC Paris Left Bank, a prestigious new address]. Le Parisien (in French). Retrieved 17 October 2014.
  31. ^ Auguy, Stephanie (28 June 2002). "Fin de la fronde chez les gérants de Formule 1" [End of the Formula 1 managers' revolt]. Le Parisien. Retrieved 17 October 2014. maison mère, dont le siège est installé à Courcouronnes.
  32. ^ "Address book." Accor. 17 October 2006. Retrieved on 19 March 2012. "Executive Management Tour Maine-Montparnasse 33, avenue du Maine 75755 Paris Cedex 15 France"
  33. ^ "Accor: Motel 6 disposal completed" (PDF) (Press release). Accor. 2 October 2012. Retrieved 17 October 2014.
  34. ^ "Mercure". Accor.com. Retrieved 29 May 2015.
  35. ^ "Thalassa Sea and Spa". Accor.com. Retrieved 21 November 2011.
  36. ^ "Accor to Sell Lenôtre" (PDF) (Press release). Accor. 21 July 2011. Retrieved 17 October 2014.
  37. ^ "TripAdvisor reviewer exposed as hotel executive". The Telegraph. Retrieved 12 February 2017.
  38. ^ "Accor suspends exec who posted fake reviews:". Travel Weekly. Retrieved 12 February 2017.

External links

Wikimedia Commons has media related to Accor.
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