Accor CEO Explains Why He Won’t Close Hotels in Russia
Photo Credit: Accor CEO Sebastien Bazin in conversation with Skift CEO and founder Rafat Ali at Skift Forum Europe in London on March 24, 2022. Skift / Russell Harper Photography
Skift Take
A couple of regions are performing well for Accor, the France-based hotel company. But let's not confuse this with those booming pre-pandemic times. The Covid hotel industry recovery still has a long way to go.
Despite calling the war in Ukraine a "tragedy," Accor CEO Sébastien Bazin said the company does not plan to pull out of Russia, noting it never has stopped operating in a war-torn country in its 50-year-history, including most recently in Myanmar, site of a bloody 2021 coup.
"We have been in countries of war probably 30 to 40 times over the last 50 years on different continents," Bazin said Thursday at Skift Forum Europe in London. "Accor never pulled out of any hotel activities at the time employees needed Accor the most."
At least in Russia, Bazin argued profit has nothing to do with the decision. Accor long has struggled in Russia, he said, where occupancy is 35-40 percent and where the company "does not make a dime." Instead, he said, Accor is staying because the company is betting it can provide a valuable service to Russia's remaining visitors, some of whom are loyal Accor customers.
This includes journalists, non-governmental organization employees and Western diplomats staying in Russia hotels. Bazin said they need a safe place to go durin
