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Accor

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Accor S.A.
Company typeSociété Anonyme
Euronext: AC
LSE: 0H59
ISINFR0000120404 Edit this on Wikidata
Industryactivities of head offices Edit this on Wikidata
FoundedAugust 1967; 57 years ago (August 1967)
HeadquartersParis, France
Revenue4,224,000,000 Euro (2022) Edit this on Wikidata
€413 million (2017)[1]
€481 million (2017)[1]
Total assets10,669,000,000 Euro (2021) Edit this on Wikidata
Number of employees
250,000 (2017)[2]
Websitewww.accorhotels.group

Accor S.A., using the brand name AccorHotels, is a French multinational hospitality company that owns, manages and franchises hotels, resorts, and vacation properties.[3] It is a constituent part of the CAC 40 index on the Paris Bourse.[4] Accor is the largest hotel group in the world outside of the United States.[5]

The group is headquartered in Paris, Issy-les-Moulineaux, Évry and Courcouronnes. It operates in 100 countries,[6] with more than 4,200 hotels and 250,000 employees worldwide. Its total capacity is approximately 570,000 rooms, with about 25% in France.

AccorHotels has a wide portfolio of 26 marques covering different segments of the hotel market. It includes luxury brands such as Raffles, Fairmont, Sofitel, Novotel and Pullman. In the budget range, Ibis and Formule 1 are its major subsidiaries, while its midrange offer includes Swissôtel, Mercure and Adagio.

History

In 1967, Paul Dubrule, Gérard Pélisson and The Urquico 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 service.[19]

In April 2018, AccorHotels signed an agreement with Mövenpick Holding and Kingdom Holding to acquire Mövenpick Hotels and Resorts for 560 million swiss francs (£411m).[20][21] Mövenpick Hotels and Resorts is present in 27 countries with a footprint of 84 hotels. It also plans to open 42 additional hotels by 2021, representing around 11,000 rooms.[20] In May 2018, AccorHotels completed the acquisition of Mantra Group, adding 134 properties under the Mantra, Peppers, Breakfree and Art Series brands. The deal will make AccorHotels the largest hotel operator in Australia.[22] .[23] AccorHotels and Chilean group Algeciras agreed to acquire Atton Hoteles for $105 million.[24][25]

Management

In 2006, Gilles Pélisson, nephew of Accor co-founder Gerard Pélisson, took over the group as CEO, replacing former CEO Jean-Marc Espalioux.[26] Accor appointed Serge Weinberg, head of Weinberg Capital Partners, chairman of the supervisory board.[27] In February 2009, Pélisson was appointed chairman and CEO.[28] Pélisson was co-vice-president of the Novotel brand in 1994.[29]

In 2009, Denis Hennequin joined the group's board of directors and replaced Pélisson as CEO in January 2011.[30] Hennequin stepped down in April 2013, and Yann Caillère was appointed CEO for a transitional period.[31] In August 2013, Sebastien Bazin was named Chairman and CEO, replacing Caillère, who left the group.[32]

The current CIO is Gilles de Richemond.[33]

Operations

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,[34] the company's registered office.[35] 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").[36]

The company's other major office facility,[34] and former registered office,[35] is located in Courcouronnes,[37] Essonne, near Évry, France.[34]

The Tour Maine-Montparnasse in Paris' 15th arrondissement once housed the executive management of Accor.[38]

Economy brands

  • Ibis Budget
  • Ibis Styles
  • Hotel Ibis
  • Hotel F1
  • Jo & Joe OpenHouse
  • 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.[39]

Midscale brands

  • Novotel (also known as Hotel Novotel)
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 793 hotels and resorts in 63 countries.[40]
  • Adagio

Upscale brands

Luxury brands

SO Sofitel Bangkok, as seen from Lumpini Park

Thalassa sea and spa

Lenôtre: in July 2011, Accor sold its stake in Lenôtre.[41]

Fake online reviews

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.[42][43]

Better Business Bureau: F rating

The hotel chain has many unanswered complaints on BBB.org and has received an F rating overall. https://www.bbb.org/us/fl/doral/profile/hotels/accor-hotels-north-america-0633-90313029

See also

References

  1. ^ a b "2017 Results". Accor. Retrieved 18 February 2018.
  2. ^ "Essential UK" (PDF). Accor. Archived from the original (PDF) on 27 March 2017. Retrieved 26 March 2017. {{cite web}}: Unknown parameter |dead-url= ignored (|url-status= suggested) (help)
  3. ^ "2011 European Hotel Group Ranking". HospitalityNet. 11 March 2011. Retrieved 17 October 2014.
  4. ^ "CAC 40". CNNMoney. Retrieved 17 October 2014.
  5. ^ "Air France-KLM : AccorHotels convoite la participation de l'Etat - Les Echos". www.lesechos.fr (in French). Retrieved 3 June 2018.
  6. ^ "Accorhotels Worldwide". www.accorhotels.group. Retrieved 3 June 2018.
  7. ^ a b c d e "Gerard Pelisson". British Travel and Hospitality. 13 April 2015. Archived from the original on 26 September 2015. Retrieved 29 May 2015. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  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. ^ a b "AccorHotels acquires Mövenpick Hotels and Resorts | Hotel Owner". www.hotelowner.co.uk. Retrieved 25 May 2018.
  21. ^ "AccorHotels agrees to buy Movenpick Hotels for 560m Swiss francs". The Business Times. Retrieved 30 May 2018.
  22. ^ Cummins, Carolyn. "AccorHotels expands footprint with $1.2b Mantra deal". The Sydney Morning Herald. The Sydney Morning Herald. Retrieved 3 June 2018.
  23. ^ "AccorHotels' acquisition of Mantra Group is officially complete – Travel Weekly". www.travelweekly.com.au. Retrieved 30 May 2018.
  24. ^ "AccorHotels, Algeciras to Buy Chilean Hotel Group Atton". www.cpexecutive.com. Retrieved 30 May 2018.
  25. ^ "Atton Hotels Acquired by AccorHotels and Chilean Group". Meetings Canada. 15 May 2018. Retrieved 30 May 2018.
  26. ^ "All in the family". The Economist. 13 October 2005. Retrieved 17 October 2014.
  27. ^ "Accor: Supervisory Board Release". HotelExecutive.com. 11 October 2005. Retrieved 17 October 2014.
  28. ^ "ACCOR: Gilles Pélisson, Chief executive Officer, Appointed Chairman of the Board" (Press release). Accor Hotels. 24 February 2009. Retrieved 17 October 2014.
  29. ^ "Accor Timeline". The Caterer. Retrieved 17 October 2014.
  30. ^ "NewsLog". BusinessTravelNews. 3 November 2010. Retrieved 17 October 2014.
  31. ^ "Press release from Board of Directors" (PDF) (Press release). Accor.com. 23 April 2010. Retrieved 17 October 2014.
  32. ^ "Sébastien Bazin appointed as Chairman and CEO" (PDF). Accor.com. 23 August 2013. Retrieved 17 October 2014.
  33. ^ Template:FrAccor: un nouveau directeur des systèmes d'information
  34. ^ 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
  35. ^ 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.
  36. ^ 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.
  37. ^ "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"
  38. ^ "Accor: Motel 6 disposal completed" (PDF) (Press release). Accor. 2 October 2012. Retrieved 17 October 2014.
  39. ^ "Mercure". Accor.com. Retrieved 14 February 2019.
  40. ^ "Accor to Sell Lenôtre" (PDF) (Press release). Accor. 21 July 2011. Retrieved 17 October 2014.
  41. ^ "TripAdvisor reviewer exposed as hotel executive". The Telegraph. Retrieved 12 February 2017.
  42. ^ "Accor suspends exec who posted fake reviews:". Travel Weekly. Retrieved 12 February 2017.
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