 | |
| Company type | Public |
|---|---|
| ISIN | FR0000120404  |
| Industry | Hospitality |
| Founded | 1967; 58 years ago (1967)[1] Paris, France |
| Founders | |
| Headquarters | Tour Sequana,, France |
Number of locations | 5,584 (end 2023)[2] |
Area served | Worldwide |
Key people | Sébastien Bazin (chairman andCEO)[1] |
| Brands |
|
| Revenue |  €5.1 billion (2023)[2] |
| €779 million (2023)[2] | |
| €633 million (2023)[2] | |
| Total assets | €11.7 billion (2022)[3] |
| Total equity | €5.4 billion (2022)[3] |
Number of employees | 300,000+ (2022)[4] |
| Website | group.accor.com |
Accor S.A. is a French multinationalhospitality company that owns, manages and franchises hotels, resorts and vacation properties.[5] It is the largest hospitality company in Europe, and the sixth largest hospitality company worldwide.[6]
Accor operates 5,584 locations in over 110 countries. Its total capacity is approximately 821,518 rooms (end 2023).[2] It owns and operates brands in many segments of hospitality: Luxury (Raffles,Fairmont,Sofitel), premium (MGallery,Pullman,Swissôtel), midscale (Novotel,Mercure,Adagio), and economy (ibis,hotelF1). Accor also owns companies specialized in digital hospitality and event organization, such asonefinestay, D-Edge, ResDiary, John Paul, Potel & Chabot and Wojo.[4]
The company is headquartered inIssy-les-Moulineaux, France, and is a constituent of theCAC Next 20 index on the Paris stock exchange.[1]
In 1967,Paul Dubrule andGérard Pélisson founded the hospitality group Société d'investissement et d'exploitation hôteliers (SIEH) and opened the firstNovotel hotel outsideLille in northern France.[7][8]
In 1974, the firstIbis hotel was launched inBordeaux, France. Ibis was then considered a light version of Novotel.[9] In 1975, Novotel-SIEH acquired the restaurant brand Courtepaille and theMercure hotels. In 1980, Novotel-SIEH acquired theSofitel hotels (43 hotels).[10] In 1981, Novotel-SIEH entered the Asian market with the opening of a Novotel inSingapore.[11]
In 1983, Novotel-SIEH acquired and merged with the group Jacques Borel International to create the Accor group, which was introduced to the Paris stock exchange the same year.[7] Accor is based on the word "Accord" meaning "agreement" in French.[12]
In 1984, Accor bought the Quiberonthalassotherapy center, which became the first of the Thalasso Sea & Spa brand,[13] and acquired the fine catering companyLenôtre the following year.[14] In 1985, the firm launchedFormule 1, a brand of low-cost hotels. The buildings themselves were modular blocks manufactured in factories and assembled onsite to minimise costs.[15]
In 1990, the firm acquired the economy lodging companyMotel 6 (536 motels in the United States).[12] In 1991, it acquired theCompagnie Internationale des Wagons-Lits, which ownedPullman Hotels and Resorts, Altea, andEuropcar.[16] Accor also launched another economy hotel, Etap Hotel.[17] In 1994, it merged the Compagnie Internationale des Wagons-Lits with Carlson Travel Network to create Carlson Wagonlit Travel (nowCWT).[18][19]
In the mid-90s, Accor shifted its interest towards luxury and premium brands, and moved towards an asset-light model to focus on brand and product management, rather than property management. Economy and midscale brands remained the group's cash cow and enabled it to invest in less profitable but strategic upscale and luxury brands.[20]
In 1997, the firm acquired the casino company SPIC, which became Accor Casino.[17] In 1999, it acquired the US-based economy lodging companyRed Roof Inn (322 hotels), and announced the creation of Accor Economy Lodging to bring Motel 6 and Red Roof Inn under one roof.[21] Along withColony Capital, it acquired the hotel brands Libertel and Demeure (40 properties in Europe).[22] Accor settled in the United Kingdom with the opening of a Sofitel in the previous Cox & Co bank in CentralLondon.[23]
Accor launched the 3-star hotel brand SuiteHotel in 1999.[24] In 2000, Accor took full control of Century International Hotels and Zenith Hotels International in Asia, bringing its number of hotels to 200 in the Asia-Pacific zone.[25] The Sofitel Philadelphia (formerPhiladelphia Stock Exchange Building) was inaugurated, the first Sofitel to open in the US in a decade.[26] Accor bought 20% of the Polish hotel company Orbis.[27] In 2002, Accor settled in Mexico.[28] In 2004, Accor bought a 28.9% stake in the French all-inclusive holidays' companyClub Méditerranée.[29]
In 2005,Gilles Pélisson, nephew of Accor's co-founderGérard Pélisson, became chairman and CEO.[30] The investment firmColony Capital invested 1 billion euros in Accor.[31] The firm sold its shares of Club Med in 2006[32] and Red Roof Inn in 2007.[33]
In 2007, Accor launched the serviced-apartments brandAdagio in a 50/50 venture withPierre & Vacances,[34] relaunchedPullman as a premium hotel brand,[35] and the Australian All Seasons as a global midscale hotel brand. In 2008, it launched theMGallery collection of upscale "personality" hotels.[36]
In November 2010, Gilles Pélisson was replaced byDenis Hennequin as the head of Accor.[30] Accor split its hotel activities from its voucher activities, Accor Services (which becameEdenred and was listed on the stock exchange).[37] Suitehotel was merged with Novotel.[38]
In 2011, Accor revamped the Ibis brand by creatingibis Styles (formerly All Seasons) andibisbudget (formerly Etap Hotel).[39] The group sold the fine catering group Lenôtre,[40] and theCompagnie Internationale des Wagons-Lits. In 2012, the group launched the regional premium brand Grand Mercure in China (MeiJue),[41] and soldMotel 6.[42] In 2013, Accor redefined its group business model on two core competencies: hotel operator and brand franchisor (HotelServices), and hotel owner and investor (HotelInvest).[43] The group acquired the premier apartment hotel brand The Sebel.[44]
In August 2013,Sébastien Bazin became chairman and CEO of Accor.[45] He introduced a new economic model around two poles: HotelServices, which operates and franchises hotels, and HotelInvest, which owns hotels and leads investments.[46]
In 2014, Accor bought a 35% share in Mama Shelter (5 hotels) whose chief designer isPhilippe Starck,[34] and signed a strategic alliance with the China Lodging Group (Huazhu Hotels Group - 1900 hotels) to develop its hotel brands in China.[47]
In June 2015, Accor changed its name to AccorHotels and announced a new digital strategy to federate its brands.[48]
The firm acquiredFRHI Hotels & Resorts in 2015, owner of theFairmont,Raffles, andSwissôtel luxury hotels.[49] In 2016, AccorHotels acquired the concierge and loyalty service John Paul,[50] the London-based short-term vacation rental companyonefinestay,[51] 30% of the German 25hours Hotels, and 30% of the Miami-based accommodations provider Oasis.[52] The firm also launchedJo&Joe in 2016, a new hotel brand aimed at millennials,[53] and signed a strategic alliance with Singapore'sBanyan Tree.[54] HotelInvest was spun off.[55]
In 2017, AccorHotels acquired the B2B hotel service provider Gekko,[56] the private sales website for hotel deals VeryChic,[57] and merged Squarebreak and Travel Keys into onefinestay,[58] and launched the MoodMatch app on its website through a partnership with Travelsify.[59] On the same year, AccorHotels also acquired 50% of the Orient Express brand in a move to relaunch it as a luxury hotel brand.[60] the group announced its strategic intention (dubbed Accor Local) to broaden its marketing to locals, instead of targeting only visitors and travelers.[61] It also diversified its portfolio of assets with the acquisition of the fine catering company Potel & Chabot,[62] and the event and entertainment organization company Noctis (renamed Paris Society).[63]
In 2018, AccorHotels sold 55% of HotelInvest for €4.4 billion and renaming it AccorInvest[64] and launched a tender offer to take full control of Orbis.[65] It acquired the Mantra Group (134 hotels under the brands Mantra, Peppers, Breakfree, Art Series),[66] theMövenpick Hotels & Resorts (84 hotels in 27 countries),[67] and the restaurant reservation and table management company ResDiary.[68] AccorHotels partnered withKatara Hospitality to set up a $1-billionAfrica-focused investment fund.[69] China Lodging Group bought 4.5% of AccorHotels.[70]
In 2019, the 21c Museum Hotels that acquired in the previous year were added to theMGallery collection.[71] Its digital marketing companies for hotels (Availpro, Fastbooking) were merged into D-Edge Hospitality Solutions.[72] The group took full control of Orbis (Its subsidiary AccorInvest acquired 98.6% shares of Orbis).[73] Accor launched the new midscale hotel brand Tribe (born under the Mantra Group Management).[74] After buying 50% of theSBE Entertainment Group (owner ofMondrian Hotels) in October 2018, Accor and SBE jointly launched the luxury hotel brand The House of Originals,[75] and the premium hotel brand Hyde inAustralia.[76] In September 2019, Accor launched its first environment-conscious hotel brand, greet, with the first hotel opened in April that year inBeaune.[77] On 3 December 2019, Accor repositioned its brand as ALL - Accor Live Limitless. The update merged Accor and its loyalty offering Le Club into one unified brand, ALL.[78]
In the wake of theCOVID-19 pandemic, Accor created CEDA (Coronavirus Emergency Desk Accor), a platform centralizing needs and providing accommodation solutions in France for front-line medical staff and vulnerable populations.[79] The group allocated 70 million euros to launch the ALL Heartist Fund which was designed to assist employees and individual partners experiencing great financial difficulties.[80] Accor and the certification agencyBureau Veritas launched a label guaranteeing high safety and cleanliness measures in the group's hotels and restaurants,[81] and signed a strategic partnership with the insurance companyAxa to provide medical assistance to the guests of its hotels worldwide.[82]
In 2020, Accor opened more than 200 new hotels including its flagship Raffles Bali.[83] On 24 November 2020, it announced that it is taking full ownership of SBE's Hotel assets (except Hudson Hotel in New York and Delano in Miami) as part of its simplification and asset-light strategy.[84] It introducedMövenpick Living as an extension of Mövenpick brand for extended stay segment.[85] The company announced its strategic plan to focus on lifestyle hospitality.[86] In 2021, Accor introduced theSPAC Accor Acquisition Company (AAC) on theParis stock exchange, raising 300 million euros to lead investments in hotel-related businesses,[87] sold a 1.5% share in the Chinese hotel management companyHuazhu,[88] and invested in the Indian tech hospitality company Treebo.[89]
In October 2021, Qatar's Supreme Committee for Delivery & Legacy had signed an agreement with Accor to manage World Cup fan accommodation during the2022 FIFA World Cup. According to the agreement Accor will provide staff to manage and operate more than 60,000 rooms in apartments and villas.[90] The same month, Accor and Ennismore finalized their joint-venture of 14 hotel brands. Accor was the majority stakeholder (then sold 10.8% to a consortium of Qatari investors[91]), and the founder of Ennismore Sharan Pasricha held a minority stake.[92] Accor and the Italian hotel group Arsenale announced the launch of theOrient Express La Dolce Vita luxury trains.[93] and the groups started to test urban autonomous cars withCitroën andJCDecaux.[94] Accor committed to decarbonize all its operations, aiming 46% emission reduction by 2030 and net zero by 2050, a plan validated by theScience Based Targets Initiative.[95] The group then issued its firstsustainability-linked bonds for an amount of 700 million euros.[96]
In 2022, Accor boughtCunard'sQueen Elizabeth 2 from PCFC Hotels[97] and launched its All-Inclusive Collection.[98] In 2023, Accor restructured into two distinct business units: "Economy, Midscale & Premium" unit (Ibis, Novotel, Mercure, Swissôtel, Mövenpick, Pullman, TRIBE from October 2023) and the "Luxury & Lifestyle" organized in four brand collections (Raffles & Orient Express, Fairmont, Sofitel & MGallery, Ennismore).[99] The group sold its remaining stake in H World Group Limited[100] and announced the launch of Orient Express Silenseas, a luxury cruise built withChantiers de l'Atlantique and planned for delivery March 2026.[101] The construction of the first ship started in March 2024.[102][103]
Accor has faced criticism for its decision to continue operating in Russia following the country’s invasion of Ukraine in 2022. While many international hotel chains suspended or ceased operations, Accor's CEO justified the company's presence by citing the responsibility to support employees and humanitarian efforts.[104] Critics argue that by maintaining business activities in Russia, Accor indirectly supports the local economy, contradicting global efforts to impose economic pressure on the country. The company was subsequently listed in the Leave Russia database for its continued presence in the Russian market.[105]
| Segment | Since | Name | Partner |
|---|---|---|---|
| Luxury | 2017 | Banyan Tree Hotels and Resorts | Banyan Group |
| 2021 | Emblems Collection | ||
| 2021 | Faena | ||
| 2015 | Fairmont Hotels and Resorts | FRHI Hotels & Resorts | |
| 2019 | Orient Express | ||
| 2015 | Raffles Hotels and Resorts | FRHI Hotels & Resorts | |
| 2017 | Rixos | Rixos Hotels | |
| 1980 | Sofitel | ||
| 2007 | Sofitel Legend | ||
| Premium | 2017 | Angsana Hotels and Resorts | Banyan Group |
| 2018 | Art Series | Mantra Group | |
| 2012 | Grand Mercure | ||
| 2018 | Mantis | Mantis Group | |
| 2008 | MGallery | ||
| 2018 | Mövenpick | ||
| 2018 | Peppers | Mantra Group | |
| 2007 | Pullman | ||
| 2015 | Swissôtel | FRHI Hotels & Resorts | |
| 2013 | The Sebel | ||
| Midscale | 2007 | Aparthotel Adagio | |
| 2018 | Mantra | Mantra Group | |
| 1973 | Mercure | ||
| 1967 | Novotel | ||
| 2018/2023 | Tribe | Mantra Group/Ennismore | |
| Economy | 2011 | Adagio access | |
| 2018 | BreakFree | Mantra Group | |
| 2019 | greet | ||
| 1984 | hotelF1 | ||
| 1974 | ibis | ||
| 2011 | ibisbudget | ||
| 2011 | ibis Styles |
| Segment | Name |
|---|---|
| Ennismore joint-venture[92] | 21c Museum Hotels |
| 25 Hours | |
| Delano | |
| Gleneagles | |
| Hyde | |
| Jo&Joe | |
| Mama Shelter | |
| Mondrian | |
| Morgans Originals | |
| SLS | |
| SO/ | |
| The Hoxton | |
| Tribe (2021–2023) | |
| working from_ |
| Brand | Description | Since |
|---|---|---|
| D-Edge Hospitality Solutions | SaaS company for hotels | 2015 |
| John Paul | White label concierge services, affinity marketing and event management | 2016 |
| onefinestay | Mobile application for short-term rentals of upscale apartments and houses | 2016 |
| Gekko | B2B hotel distribution platform | 2017 |
| Mamaworks | Coworking spaces in France and Luxembourg | 2017 |
| Paris Society | Organization of events and entertainment | 2017 |
| Potel & Chabot | Upscale catering | 2017 |
| Verychic | Private sales of hotels and luxury stays | 2017 |
| Adoria | Platform for the catering industry to optimize supply management | 2018 |
| Astore | Hotel/restaurant purchase platform | 2018 |
| ResDiary | Reservation and management of restaurant tables | 2018 |
| Wojo | Coworking spaces (within the group's hotels) | 2018 |
| Thalassa[106] | Spa | 1984 |
| Orient Express[60] | Luxury travels | 2017 |
| Lido[107] | Cabaret | 2022 |
| Year | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 5,948 | 6,100 | 5,649 | 5,425 | 5,454 | 5,581 | 1,646 | 1,937 | 3,610 | 4,049 | 1,621 | 2,204 | 4,224 | 5,056 |
| Net income | 3600 | 27 | (599) | 126 | 223 | 244 | 265 | 441 | 2,233 | 464 | (1,988) | 85 | 392 | 633 |
| Jinjiang International | 12.8% |
| Qatar Investment Authority | 8.5% |
| Kingdom Holding Co. (Investment Management) | 6.2% |
| Parvus Asset Management | 6.8% |
| Pzena Investment Management | 7.2% |
| Floating | 68.5% |
Board of directors as of January 2022:
| Luxury | |
|---|---|
| Premium | |
| Midscale | |
| Economy | |
| Subsidiaries | |
CAC Next 20 companies of France(as of 1 October 2023[update]) | |
|---|---|
