Skift Take
The cost cutting program, unfortunately, was inevitable. The healthy occupancy rates from China, France, and Germany were unexpected. Is recovery in sight?
Showing further strains from the pandemic's fallout, French hotel giant Accor is launching a 200 million euro ($235 million) cost-saving plan that will see it cut 1,000 roles, while it is also considering selling the iconic Paris headquarters it purchased in 2016 for 363 million euro (£427 million).
Accor posted revenues of 917 million euro ($1.079 billion) for the first half of 2020. This is down 52.4 percent compared with the first half of 2019.
"That couple hundred million (in cost savings being implemented) basically implies 1,000 jobs laid off," said Sebastien Bazin, chairman and CEO of Acc
