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Accor presses fast-forward on luxury transformation

02/26/2020| 5:37:20 PM| 中文

Accor has moved from a European-focused, asset heavy, midscale/economy hotel company to something quite different.

Accor CEO Sébastien Bazin has vowed to keep accelerating the company’s luxury evolution even as he called its transformation under his tenure “over.”

Since 2014, Accor has almost doubled the fee revenue it took from its luxury and upscale business segment, and this is only going to continue over the coming years.

While the segment only accounts for around 35 percent of the company’s room pipeline — slightly less than its midscale brands— it translates to a much higher percentage in terms of revenue generated.

Accor’s top-end brands include the likes of Fairmont and Raffles as well as Delano and SLS through its stake in SBE Entertainment Group.

“Fifty percent of the fees of Accor will be coming from upscale and luxury, even though it’s less in number of rooms,” Bazin told analyst on an earnings call on Thursday.

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TAGS: Accor | asset-light transformation | financial report
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