Accor

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Accor S.A.
TypeSociété Anonyme
Traded asEuronextAC, LSE0H59
IndustryHospitality, Tourism
Founded1967
HeadquartersParis, France
Key peopleSébastien Bazin (Chairman and CEO)
ProductsHotels and resorts
Revenue€5.6 billion (2012)[1]
Operating income€526 million (2012)[1]
Profit€80 million (2012)[1]
Total assets€8 billion (end 2011)[1]
Total equity€2.98 billion (2011)[1]
Employees160,000 (2011)[1]
Websitewww.accor.com
 
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Accor S.A.
TypeSociété Anonyme
Traded asEuronextAC, LSE0H59
IndustryHospitality, Tourism
Founded1967
HeadquartersParis, France
Key peopleSébastien Bazin (Chairman and CEO)
ProductsHotels and resorts
Revenue€5.6 billion (2012)[1]
Operating income€526 million (2012)[1]
Profit€80 million (2012)[1]
Total assets€8 billion (end 2011)[1]
Total equity€2.98 billion (2011)[1]
Employees160,000 (2011)[1]
Websitewww.accor.com

Accor S.A. is a French hotel group,[2] part of the CAC 40 index,[3] which operates in 92 countries.[4]

Headquartered in Paris, France, the group owns, operates and franchises 3,500 hotels on 5 continents representing several diverse brands, from budget and economy lodgings to luxurious accommodations in exotic locales.[5]

Previously, the group comprised a separate 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.[6]

History[edit]

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. The sale occurred over the next three years and cut debt by about 282 million euros.[7]

The Accor Group continued to expand. In 1985, it launched Hotel Formule 1 brand, offering basic accommodation at low prices.[8]

Five years later, in 1990, it entered the North American market by acquiring Motel 6;[9] 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.[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 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 Etap brands become Ibis Budget).[13] In 2011, Accor introduced its new brand positioning with the slogan: "Open new frontiers in hospitality."[14]

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

In November 2013, Accor redefined its group business model on 2 core competencies: services to business owners (HotelServices) and asset management (HotelInvest).[15]

Management[edit]

In 2006, Gilles Pélisson, nephew of Accor co-founder Gerard Pélisson, took over the group as CEO, replacing former CEO Jean-Marc Espalioux.[16] Accor appointed Serge Weinberg, head of Weinberg Capital Partners, chairman of the supervisory board.[17] In February 2009, CEO Gilles Pélisson was appointed chairman and CEO.[18] Gilles Pélisson had previously been head of Bouygues Telecom, chairman of NOOS[disambiguation needed], the leading cable network in France, and CEO of Euro Disney. He was co-vice-president of the Novotel brand in 1994.[19] 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.[20] He stepped down in April 2013 and Yann Caillère was appointed CEO for a transitional period.[21] In August 2013, Sebastien Bazin was named Chairman and CEO, replacing Yann Caillère who left the group.[22]

Board of Directors (August 2013)[23]

Board of Directors' constitution:[24]

Executive Committee (November 2013)[25]

Executive Committee's composition:[26]

Offices[edit]

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.[27] This facility is the company's registered office.[28] 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").[29]

The company's other major office facility,[27] which previously served as its registered office,[30] is located in Courcouronnes,[31] Essonne, near Évry, France.[27]

Previously the Tour Maine-Montparnasse in Paris' 15th arrondissement housed the executive management of Accor.[32]

Economy brands[edit]

In August 2012, Accor announced its economic brands would be reinvented into "the ibis family",[33] including 3 complementary brands - ibis, ibis budget (formerly Etap Hotel) and ibis Styles (formerly all seasons) - described as having "3 distinct personalities". The hotel properties have undergone extensive refurbishments including new bedding and enhanced common areas.

hotelF1 is a chain of 239 budget hotels in France.[34] The brand's core values are "practical, simple and economical". Guestrooms are equipped with a wash corner and each floor offers shared bathroom and shower facilities.[35]

ibis budget features 503 hotels in 17 countries.[36] The brand expanded in 2012 due to the rebranding of Accor's Etap Hotels in Europe and Accor's Hotel Formule 1 hotels in the Southern Hemisphere. ibis budget provides comfortable, affordable rooms with WiFi Internet access, all-you-can-eat breakfast and 24 hour reception. The full network features the brand’s “cocoon concept,” awarded Best Interior Design at the 2008 European Design Awards. Hotels are located near airports, major highways and city centres.[37]

ibis Styles features 214 hotels in 18 countries.[38] The brand expanded in 2012 with the rebranding of the All Seasons brand. [39]

ibis represents Accor's largest portfolio of hotels and resorts with 979 hotels in 58 countries.[40] Hotels are usually located in metropolitan city centres, near major airports and highways and some holiday destinations.[41]

Former budget and economy hotel brands

Red Roof Inn

Accor acquired Red Roof Inn in 1999 for $1.115 billion, increasing presence in North America. In April 2007, Accor 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 their Motel 6 brand.[42]

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.[43]

Midscale brands[edit]

Pullman at Sydney Olympic Park (left) and Novotel Sydney Olympic Park(right)

Mercure is the largest of Accor's midscale brands found internationally with 746 hotels and resorts in 51 countries.[44] These hotels are mostly located in city centres, by the sea and in the mountains. [45]

Novotel features 398 full-service hotels and resorts in 60 countries.[46] Suite Novotel features 30 all-suite hotels in 9 countries.[47]

Adagio offers 87 'ready-to-live' apartment-style accommodations in 7 countries suitable for medium and long-stay business guests.[48]

Upscale brands[edit]

Grand Mercure is a full-service hotel and resort brand representing 10 hotels and apartment hotels in 5 countries.[49] The brand’s slogan is “Discover a new authentic” which means each hotel is connected to its local area through its design, amenities and service.

Grand Mercure Apartments cater to long-stay travellers with rates that depend on length of stay. The apartments have kitchen and laundrette facilities.

Mei Jue is a Chinese adaptation of the Grand Mercure brand. It is designed for travellers in China who want an upscale hotel brand. There are 13 hotels and more than 65 new developments scheduled for 2015.[49]

The Sebel is a brand of premium apartments. There are 18 properties in Australia and New Zealand. By end 2014, this is expected to grow to 30 properties.[50]

Pullman features 80 upscale hotels and resorts in 24 countries.[51]

B-Lay Tong Phuket - MGallery Collection, view of the pool and reception from the Spa Suite

MGallery is a collection of 64 high-end boutique hotels in 22 countries.[52]

The brand's official Ambassador is actress Kristin Scott Thomas.

Luxury brands[edit]

Sofitel So Bangkok, as seen from Lumpini Park

Sofitel is Accor's luxury hotel and resort brand with 120 hotels in 40 countries.[53]

Sofitel So are designer hotels in Bangkok, Thailand, and Bel Ombre, Mauritius. Each SO is designed by a famous architect: Kenzo Takada designed the Sofitel So in Mauritius, and Christian Lacroix designed the Sofitel So in Bangkok. A third Sofitel So is scheduled to open in Singapore in late 2013.[54] By 2015, new Sofitel SO hotels are expected in Mumbai (India), Rio de Janeiro (Brazil), and Auckland (New Zealand).

Sofitel Legends is a chain of hotels in 5 countries. The hotels are usually listed as historic monuments. The Sofitel Legend Metropole Hanoi was the first Sofitel Legend, named in July 2009.[55]

Thalassa sea and spa[edit]

Thalassa sea and spa: 15 destinations, 14 thalassotherapy sites, 18 hotels, 4 countries[56]

Lenôtre: In July 2011, Accor sold its stake in Lenôtre [57]

Mirvac Hotels & Resorts acquisition in Australia[edit]

Sea Temple Surfers Paradise, Gold Coast, Australia (aka Soul Tower)

In November 2011, Accor attained exclusive purchasing rights to Mirvac Hotels & Resorts, greatly expanding Accor's presence in Australia with 48 new hotels and resorts.

Though some Mirvac brands - Sebel, Quay West, Citigate and Sea Temple - will remain under their existing brands, others became part of Accor's up-scale and luxury hotel and resort brands. As a result, the MGallery and Pullman brands expanded their presence in Australia.

Notable rebrandings:

Three former Mirvac hotels joined Accor's MGallery Collection due to their boutique hotel status and/or heritage listing:

References[edit]

  1. ^ a b c d e f "2011 Results". Accor. Retrieved 9 March 2012. 
  2. ^ 2011 European Hotel Group Ranking Retrieved on 9 March 2012, HospitalityNet
  3. ^ CAC 40 Retrieved on 13 November 2011, CNN Money
  4. ^ Accor Worldwide Retrieved on 28 January 2012, Accor.com
  5. ^ Accor in brief Retrieved on 9 March 2012, Accor.com
  6. ^ Accor demerger approved by shareholders Retrieved on 13 November 2011, Breaking Travel News
  7. ^ ehotelier.com. "eHotelier". eHotelier. Retrieved 17 April 2011. 
  8. ^ Hotel F1 Retrieved on 13 November 2011, Accor.com
  9. ^ French firm to acquire Motel 6 Retrieved on 13 November 2011, Los Angeles Times
  10. ^ Accor sells Red Roof Inn unit for $1.32 bln Retrieved on 13 November 2011, Reuters.com
  11. ^ Accor buys stake in Club Med Retrieved on 13 November 2011, The New York Times
  12. ^ "Accor demerger approved by shareholders". Breakingtravelnews.com. Retrieved 17 April 2011. 
  13. ^ Accor Says a Farewell Etap Hotels and All Seasons Retrieved on 25 November 2011, eturbonews.com
  14. ^ "Accor Launches New Operational Strategy with Major Changes Focused on Brands". Hotel-online.com. Retrieved 25 November 2011. 
  15. ^ "A new strategy to enhance growth and sustained value creation". Accor.com. Retrieved 20 December 2013. 
  16. ^ "All in the family". Economist.com. 13 October 2005. Retrieved 16 November 2011. 
  17. ^ "Accor: Supervisory Board Release". HotelExecutive.com. Retrieved 16 November 2011. 
  18. ^ "ACCOR : Gilles Pélisson, Chief executive Officer, Appointed Chairman of the Board". 4-traders.com. Retrieved 16 November 2011. 
  19. ^ "Accor Timeline". Caterer Search. 
  20. ^ "NewsLog". BusinessTravelNews. Retrieved 16 November 2011. 
  21. ^ "Press releqse from Board of Directors". Accor.com. Retrieved 2013-04-23. 
  22. ^ "Sébastien Bazin appointed as Chairman and CEO". Accor.com. Retrieved 2013-10-04. 
  23. ^ "Board of Directors". Accor.com. Retrieved 2013-10-04. 
  24. ^ "Board of Directors". Accor.com. Retrieved 17 April 2011. 
  25. ^ "Executive Committee". Accor.com. Retrieved 2013-12-20. 
  26. ^ "Executive Committee". Accor.com. Retrieved 2013-12-20. 
  27. ^ a b c "Address book." Accor. Retrieved on 19 March 2012. "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"
  28. ^ "Legal information." Accor. Retrieved on 19 March 2012. "[...]having its registered office at 110 Avenue de France - 75013 PARIS" and "with its Group Corporate Communications & External Relations is located at: Immeuble Odyssey, 110 avenue de France, 75013 Paris, France."
  29. ^ Doutriaux, Géraldine. "La ZAC Paris-Rive-Gauche, nouvelle adresse de prestige." Le Parisien. 8 January 2007. Retrieved on 19 March 2012.
  30. ^ "Legal information." Accor. Retrieved on 24 September 2009. "ACCOR, a company governed by French law, with capital of 680,381,847 euros, having its registered office at 2 rue de la Mare Neuve, 91000 Evry, France,"
  31. ^ Auguy, Stéphanie. "Fin de la fronde chez les gérants de Formule 1." Le Parisien. 28 June 2002. Retrieved on 24 September 2009. "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. ^ "[1]." Accor. 20 June 2012. Retrieved on 17 January 2013. "A new strategic phase for the ibis family"
  34. ^ "ibis". Accor.com. Retrieved 11 November 2011. 
  35. ^ "ibis". Accor.com. Retrieved 11 November 2011. 
  36. ^ "Etap / Formule1 / ibis budget". Accor.com. Retrieved 25 November 2011. 
  37. ^ "Etap / Formule1 / ibis budget". Accor.com. Retrieved 25 November 2011. 
  38. ^ "ibis". Accor.com. Retrieved 11 November 2011. 
  39. ^ "ibis". Accor.com. Retrieved 11 November 2011. 
  40. ^ "ibis". Accor.com. Retrieved 11 November 2011. 
  41. ^ "ibis". Accor.com. Retrieved 11 November 2011. 
  42. ^ "Accor sells Red Roof Inn unit for $1.32 bln". Reuters.com. 23 April 2007. Retrieved 25 November 2011. 
  43. ^ "Accor: Motel 6 disposal completed". Accor.com. Retrieved 2 October 2012. 
  44. ^ http://www.accor.com/en/brands/brand-portfolio/mercure.htm
  45. ^ http://www.accor.com/en/brands/brand-portfolio/mercure.htm
  46. ^ "Novotel". Accor.com. Retrieved 11 November 2011. 
  47. ^ "Suite Novotel". Accor.com. Retrieved 11 November 2011. 
  48. ^ "Adagio". Accor.com. Retrieved 11 November 2011. 
  49. ^ a b "Grand Mercure". Retrieved 15 March 2012. 
  50. ^ "The Sebel". Accor.com. Retrieved 7 October 2013. 
  51. ^ "Pullman". Accor.com. Retrieved 21 November 2011. 
  52. ^ "MGallery". Accor.com. Retrieved 21 November 2011. 
  53. ^ "Sofitel". Accor.com. Retrieved 21 November 2011. 
  54. ^ "Sofitel". Sofitel.com. Retrieved 17 January 2013. 
  55. ^ "Sofitel". Accor.com. Retrieved 21 November 2011. 
  56. ^ "Thalassa Sea and Spa". Accor.com. Retrieved 21 November 2011. 
  57. ^ http://www.accor.com/fileadmin/user_upload/Contenus_Accor/Finance/Pressreleases/2011/EN/20110721_pr_accor_lenotre.pdf

External links[edit]