Accor Presses Fast-Forward on Luxury Transformation
Photo Credit: Raffles Seychelles. Accor is moving more toward the luxury end of the hotel market. Accor
Skift Take
Although CEO Sébastien Bazin said the transformation of Accor was pretty much done, he's not taking his foot off the pedal just yet in terms of moving the company more toward the luxury and lifestyle end of the hospitality market.
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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Accor has moved from a European-focused, asset heavy
