It’s a pebble in the shoe of Sébastien Bazin, CEO of Accor: his weakness in the United States, the world’s largest market. During the Covid-19 pandemic, the pebble became a ball and chain. The French hotel group announced, Thursday, February 24, a positive net result of 85 million euros for the 2021 financial year, thanks to cost reductions and the sale of shares in the Chinese hotelier Huazhu. Its turnover, of 2.2 billion euros, is 42% lower than it was in 2019, before the tourism crisis. A limited recovery, largely due to the situation of its hotels, very present in Europe and Asia-Pacific, and very discreet across the Atlantic.
The United States, due to an early vaccination campaign, its huge domestic market and a liberal policy regarding the circulation of the virus, saw tourism pick up faster and stronger than elsewhere: both on the vacation front, which benefited hotels on the Gold Coast, Florida, or resorts in the Caribbean, and on economy and midscale business tourism.
This is how the Anglo-Saxon chains rivaling Accor, with the exception of Hyatt, have all announced comfortable profits. Propelled by activity in the United States, they contained the overall drop in revenue per room (RevPAR), the benchmark indicator for the sector, between −30% and −19%. Accor’s fall is greater (−46%).
“Our angle, luxury and lifestyle”
Customers are not particularly shying away from Accor brands, nor are hotel owners: the group forecasts a 3.5% growth in its base in 2022. But it is penalized by its significant presence in Southeast Asia. , in Australia and, of course, in Europe, in the business centers.
In North America, its presence is anecdotal, with less than a hundred hotels. Difficult to convince the owners to move under the Novotel or Ibis flag rather than under brands recognized across the Atlantic, in the hands of groups enjoying a huge reservoir of loyalty cards.
The takeover of the Canadian Fairmont, in 2016, gave it a small notoriety and a presence in luxury, but hardly any rooms. The group now hopes to find a place for itself through the trendy hotel industry, with in particular the brands of the SBE group, acquired in 2021. “We try to differentiate ourselves, because it is difficult to go head-on against many and very powerful people, admits Jean-Jacques Morin, the financial director of Accor. Our angle is luxury and lifestyle. » The coming year will not change the situation, with only two openings planned in the United States, still at the top of the range.
You have 24.21% of this article left to read. The following is for subscribers only.
