Skift Forum Europe Preview: Accor Moves to Defend Its European Turf
Photo Credit: Accor CEO Sébastien Bazin (pictured) plans to fuel a lot of company growth through lifestyle and luxury brands. Skift
Skift Take
Accor continues to see bright days ahead in its recovery, but the war in Ukraine adds new challenges for Accor's already volatile pandemic recovery — especially a conflict in one’s backyard.
Skift Forum Europe
Skift Forum Europe was held in London, England on March 24, 2022. Find out about future Skift events through the link below.This year was supposed to be Accor’s year to get a taste of the pandemic recovery its American competitors experienced in 2021.
Despite war breaking out in Ukraine in recent weeks, the Paris-based hotel company shows no sign of backing down from its growth targets.
Accor CEO Sébastien Bazin, who is speaking at Skift Forum Europe on March 24, previously indicated the company was anywhere from nine to 12 months behind American competitors like Hilton and Marriott in recovery from the pandemic. Europe relies more on long-haul and cross-border travel — both of which were restricted during the worst of the pandemic — compared to the domestic-heavy U.S.
While Accor was still profitable last year and vastly improved from its 2020 loss, it wasn’t the kind of profitability achieved by American hotel companies. Marriott made a nearly $1.1 billion last year in profits compared to Accor’s roughly $95 million.
