Accor

Accor S.A.

Type	Société Anonyme
Traded as	Euronext: AC, LSE: 0H59
Industry	Travel, tourism
Founded	1967
Headquarters	Courcouronnes, France
Key people	Denis Hennequin (Chairman and CEO)
Products	Hotels and resorts
Revenue	€5.948 billion (2010)
Operating income	€446 million (2010)
Profit	€334 million (2010)
Total assets	€8.678 billion (end 2010)
Total equity	€3.949 billion (end 2010)
Employees	65,170 (FTE, 2010)
Website	www.accor.com

Accor is a French hotel group, part of the CAC 40 index , which operates in over 91 countries . Headquartered in Paris, France , the group owns, operates and franchises 4,274 hotels ranging from economy to luxury on five continents .

Previously, the group comprised a hotels branch (Accor Hospitality – whose activities are now the group’s core business) and a corporate services branch (Accor Services). Accor Services sold service vouchers to over 430,000 companies and institutions and 30 million users in 40 countries.^{[citation needed]} The company demerged its Accor Services unit in 2010 under the name Edenred.

History

In the 1960s, the travel industry in France was booming, but many new hotels were concentrated only in major urban areas such as Paris. At the time, Paul Dubrule and Gérard Pélisson were both living in the United States, working for major computer firms. They went into business together, and in 1967, founded the SIEH (Société d'investissement et d'exploitation hôteliers) hotel group. Having seen the success of American lodging properties in suburban areas and along major highways, Dubrule and Pélisson opened their first American-style Novotel hotel outside of Lille in northern France. In 1974, they launched the Ibis brand with the opening of the Ibis Bordeaux. The following year, SIEH acquired the Courtepaille and Mercure brands, and in 1980 the Sofitel hotel brand, which then consisted of 43 hotels. Two years later, in 1982, the SIEH bought out Jacques Borel International, the then world-leading brand offering restaurant vouchers. In 1983, the Group, which had restaurant tickets and hotels, changed its name to the Accor Group. In 1984, Dubrule and Pélisson were elected "Managers of the Year" by France’s Le Nouvel Économiste magazine. In 2010, Accor SA sold 48 hotels for 367 million euros ($465 million) as part of a plan to liquidate some real estate holdings including 31 properties in France, 10 in Belgium, and 7 in Germany. This sale that will occur over the next three years will cut debt by about 282 million euros.

The Accor Group continued to expand. In 1985, it launched Hotel Formule 1 brand, offering low-quality accommodation at low prices.

Five years later, in 1990, it acquired Motel 6 in North America ; and thereafter bought the Westin Hotels and Red Roof Inn chains, which it later resold to Starwood and a consortium of Citi’s Global Special Situations Group and Westbridge Hospitality Fund, L.P. respectively.

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

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. In September 2011, Accor announced a focus on its brands. Ibis becomes the keystone of the Group’s economy brands (All Seasons becomes Ibis Styles, and Formule 1 and Etap brands become Ibis Budget). In 2011, Accor introduced its new brand positioning with the slogan: “Open new frontiers in hospitality.”

Accor has France’s largest number of hotels in the low-, medium- and high-range price brackets in Paris and across the country.

Management

In 2006, Gilles Pélisson, nephew of Accor co-founder Gerard Pélisson, took over the group as CEO, replacing former CEO Jean-Marc Espalioux. Accor appointed Serge Weinberg, head of Weinberg Capital Partners, chairman of the supervisory board. In February 2009, CEO Gilles Pélisson was appointed chairman and CEO. Gilles Pélisson had previously been head of Bouygues Telecom, chairman of NOOS, the leading cable network in France, and CEO of Euro Disney. He was co-vice-president of the Novotel brand in 1994. In September 2007, Gerard Pélisson and Paul Dubrule published a book called Reaching for the Impossible, recounting the expansion of the Group across the world. In 2009, Denis Hennequin joined the Group’s board of directors and replaced Gilles Pélisson as CEO in January 2011.

Board of Directors (January 2011)

Board of Directors' constitution:

• Denis Hennequin, Chairman & CEO
• Jean-Paul Bailly, Chairman and Chief Executive Officer of the French Post Office (Groupe La Poste)(*)
• Thomas J. Barrack, Founder, Chairman and Chief Executive Officer of Colony Capital LLC
• Sébastien Bazin, Chief Executive Officer Europe of Colony Capital SAS
• Philippe Citerne, Vice Chairman of the Board of Accor and former Chief Operating Officer of Société Générale (*)
• Mercedes Erra, Executive Co-Chairman of Euro RSCG Worldwide (*)
• Sophie Gasperment, Chief Executive Officer of The Body Shop International (*)
• Bertrand Meheut, Chairman of the management board of Canal+ Group (*)
• Virginie Morgon, Director of investment and executive board member of the Eurazeo Executive Board
• Franck Riboud, Chairman and Chief Executive Officer of Danone (*)
• Patrick Sayer, Chairman of the executive board of Eurazeo

(*) : Independent Director

Executive Committee (September 2011)

Executive Committee's composition:

• Denis Hennequin, Chairman & CEO
• Yann Caillère, President and Chief Operating Officer
• Grégoire Champetier, Global Chief Marketing Officer
• Dominique Esnault, Global Chief Operations Support
• Sophie Stabile, Global Chief Financial Officer
• Marc Vieilledent, Global Executive Vice President Asset Management
• Antoine Recher, Global Chief Human Resources Officer
• Pascal Quint, Corporate Secretary

Brands

Accor Hospitality

Budget brands:

• EtapHotel/Formule1/Ibis Budget: 517 hotels in 16 countries
• Motel 6: 1019 hotels in USA and Canada
• Studio 6: 62 hotels in USA and Canada

Accor completed the sale of Red Roof Inns in September 2007

Accor global locations

Economy brands:

• Ibis: 919 hotels in 51 countries
• All Seasons/Ibis Styles: 131 hotels in 13 countries

Midscale brands:

• Suite Novotel: 3-star hotels in Europe. 28 hotels in 8 countries
• Mercure: 681 hotels in 49 countries
• Adagio: 33 apartment hotels in 6 countries
• Grand Mercure: 44 apartment hotels in 6 countries

Upscale brands:

• MGallery: 40 hotels in 20 countries centered on four themes: Vision, Design, History and Location.
• Pullman: 55 hotels in 19 countries (by 2015, it will grow to 250 hotels worldwide and will ultimately include more than 300)

Luxury brand:

• Sofitel Hotels and Resorts, including the new top luxury Sofitel Legend historic properties and palaces. 115 hotels in 37 countries.

Figures as of September 2011^{[citation needed]}

Other activities:

• Thalassa Sea and Spa: 15 destinations, 14 thalassotherapy sites, 1 thermal spa, 3 countries

New Aquisitions in Australia

• In November 2011, Accor attained exclusive purchasing rights to Mirvac Hotels & Resorts portfolio, an aquisition that will greatly expand Accor's presence in Australia with over 48 new hotels and resorts nationwide. Accor will 'absorb' the existing Mirvac brands - Sebel, Quay West, Citigate and Sea Temple - into its existing up-scale and luxury hotel and resort brands depending on the physical aspects and location of each individual property. This is expected to be finalised as of June or July 2012.

Accor hotels Pullman (left) and Novotel (right) located at Sydney Olympic Park

Famous hotels

• Sofitel Winter Palace Luxor
• Sofitel Legend Metropole Hanoi

External links

• Official website
• Accorhotels.com