ACCOR CONTINUES TO TRANSFORM AND SIMPLIFY ITS STRUCTURE BY LEVERAGING ITS LEADERSHIP POSITIONS IN THE MOST BUOYANT HOSPITALITY MARKETS AND SEGMENTS
Evolution of the Group’s organizational structure based on two distinct business divisions |
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ACCOR CONTINUES TO TRANSFORM AND SIMPLIFY ITS STRUCTURE BY LEVERAGING ITS LEADERSHIP POSITIONS IN THE MOST BUOYANT HOSPITALITY MARKETS AND SEGMENTS
Evolution of the Group’s organizational structure based on two distinct business divisions |
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- The “Economy, Midscale & Premium ” division will notably include ibis, Novotel, Mercure, Swissôtel, Mövenpick and Pullman and will incorporate 4 major regions
- The “Luxury & Lifestyle” division will bring together the brands from these segments and will be structured around 4 brand collections: Raffles & Orient Express, Fairmont, Sofitel & MGallery, and Ennismore
- Confirmation of renewal of Accor’s Chairman & CEO term to support the new structure and growth acceleration
Accor, global hotel operator and leader in Luxury & Lifestyle hospitality, operates a unique portfolio of brands covering all segments, from economy to luxury, in 110 countries.
The Group is evolving its structure to capitalize on the transformation undertaken in recent years, consolidate its leadership positions, focus its efforts, strengthen its know-how, accelerate its growth and continue to improve its profitability.
As such, Accor will leverage two divisions comprising separate and distinctive expertise with the aim of further strengthening the excellence of each of these business lines, improving their operational and financial performance, offering their owners and guests ever more relevant products and services, and attracting the best talents.
From October 1, 2022, Accor will be structured around two dedicated divisions:
- “Economy, Midscale & Premium Division”, comprising notably the Group’s brands ibis, Novotel, Mercure, Swissôtel, Mövenpick and Pullman, covering 4,816 hotels worldwide and 948 new properties in development. This division will incorporate leadership positions in Europe, Latin America, Asia-Pacific and the Middle East, and will be structured around four regional headquarters based in Paris, Sao Paulo, Singapore and Shanghai. It will focus its strategy on accelerating its development notably through franchises, the rejuvenation of its brands and the industrialization of our operating model.
- “Luxury & Lifestyle Division”, bringing together Accor’s luxury brands as well as the Group’s lifestyle entity, Ennismore, and covering 488 hotels globally and 266 new properties in development. This division focused on Luxury and Lifestyle will be structured by brand around 4 pillars: Raffles & Orient Express, Fairmont, Sofitel & MGallery, and Ennismore. It will be committed to strengthening the identities of its iconic brands, investing in top talents, selecting the best locations and offering unique and innovative experiences.
Through these two business divisions incorporating growth strategies and trajectories that have been clearly defined and tailored to guest and owner expectations, Accor will offer its partners and investors a clear and transparent model for each of its business lines, which will be a factor in creating value and ramping up the development of its brands and segments.
According to Sébastien Bazin, Accor Chairman and CEO, “Changing our organizational structure is a natural step in the transformation initiated several years ago, which turned Accor into an asset-light group that is more agile and efficient, with a global profile and which has become a key player in Luxury and Lifestyle. By evolving from a generalist to a multi-specialist model, our aim is to further improve Accor’s appeal in the eyes of talents, owners, partners and investors. We capitalize on our leadership positions to accelerate our development, better focus talents and expertise, and improve our performance.”.
This organizational structure is submitted to the Group’s employee representative bodies.
To support the implementation and ensure the roll-out of this new structure, Accor’s Board of Directors has confirmed its support to the Group’s leadership and unanimously decided to propose the renewal of Sébastien Bazin as Chairman and CEO at next Annual General Meeting called to approve the 2022 financial statements.
Sébastien Bazin, Accor Chairman and CEO, said “I would like to thank the Board of Directors for its renewed trust and will pursue my mission serving the Group and its stakeholders with determination and enthusiasm”.
About Accor
Accor is a world leading hospitality group consisting of 5,300 properties and 10,000 food and beverage venues throughout 110 countries. The group has one of the industry’s most diverse and fully-integrated hospitality ecosystems encompassing more than 40 luxury, premium, midscale and economy hotel brands, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor’s unmatched position in lifestyle hospitality – one of the fastest growing categories in the industry – is led by Ennismore, a joint venture in which Accor holds a majority shareholding. Ennismore is a creative hospitality company with a global collective of entrepreneurial and founder-built brands with purpose at their heart. Accor boasts an unrivalled portfolio of distinctive brands and approximately 230,000 team members worldwide. Members benefit from the company’s comprehensive loyalty program – ALL - Accor Live Limitless – a daily lifestyle companion that provides access to a wide variety of rewards, services and experiences. Through its Planet 21 – Acting Here, Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the Group is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity and inclusivity. Founded in 1967, Accor SA is headquartered in France and publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States.
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