Accor announced that it was simplifying its structure by reorganizing its brands and creating two separate business divisions.
Its “Economy, Midscale and Premium” division will include Ibis, Novotel, Mercure, Swissôtel, Mövenpick and Pullman and will integrate four major regions. It covers 4,816 hotels worldwide with 948 new properties under development.
At the same time, the “Luxury and Lifestyle” division will bring together the brands of these segments and will be structured around four brand collections: Raffles and Orient Express, Fairmont, Sofitel and MGallery, and Ennismore. This 488 hotels worldwide with 266 new properties under development.
The group has indicated that it is changing its structure to “capitalize on the transformation initiated in recent years, consolidate its leadership positions, concentrate its efforts, strengthen its know-how, accelerate its growth and continue to improve its profitability”.
It will henceforth rely on the two divisions made up of separate and distinct areas of expertise with the aim of further strengthening the “excellence” of each of these businesses and improving their operational and financial performance.
Accor declared: “Through these two business lines integrating clearly defined growth strategies and trajectories adapted to the expectations of customers and owners, Accor will offer its partners and investors a clear and transparent model for each of its businesses, which will constitute a factor in creating value and accelerating the development of its brands and segments.
Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said: “Developing our organization is a natural step in the transformation initiated several years ago, which has made Accor an asset light, more agile and efficient group with a global profile. and which has become a key player in Luxury and the Art of Living.
“By moving from a generalist model to a multi-specialist model, our objective is to further improve Accor’s attractiveness to talents, owners, partners and investors. We are capitalizing on our leadership positions to accelerate our development, better target talent and expertise and improve our performance.