Accor’s Two-Track Strategy: Luxury for Growth, Economy for Profit
Photo Credit: A rendering of a planned new hotel in Vietnam, the Mövenpick Vung Tau. It's set to open its doors in 2027 Accor
Skift Take
Skift spoke with Group Deputy CEO Jean-Jacques Morin about Accor's strategic pivot in key areas, such as why half of its new hotels will be in Asia this year.
Accor on Thursday reported an 11% revenue increase for 2024 - a jump that largely came from its luxury division. The company's luxury and lifestyle segment grew 19%, more than triple the 5% growth rate of the mainstream business.
The Paris-based hotel operator also said it's focusing its expansion in high-growth markets, including South America, China, India, and the Middle East.
The board asked Group CEO Sébastien Bazin to remain in his role until he reaches the company's mandatory retirement age of 65 in late 2027.
Ahead of Thursday's earnings results, Skift spoke with Group Deputy CEO Jean-Jacques Morin about the company's strategy and his management style.
Morin joined Accor in late 2015, first as CFO and quickly added the title of Group Deputy CEO. In 2013, he added the job of CEO of the company's "premium, midscale and economy" division.
Morin spoke with Skift about Accor's strategic pivot in key areas, including brand quali
