AccorHotels finalizes acquisition of John Paul, the world leader in the concierge market
AccorHotels announced today that it has finalized the acquisition of John Paul, the number-one player in the concierge market. John Paul founder David Amsellem will retain a 20% stake in the company and continue to serve as its Chief Executive Officer. This acquisition values the company at US$150 million, i.e. a 2017e EV/EBITDA multiple of c.11x.
AccorHotels announced today that it has finalized the acquisition of John Paul, the number-one player in the concierge market. John Paul founder David Amsellem will retain a 20% stake in the company and continue to serve as its Chief Executive Officer. This acquisition values the company at US$150 million, i.e. a 2017e EV/EBITDA multiple of c.11x.
John Paul was established in Paris in 2007 and merged with American company LesConcierges in 2015 to create the world leader in premium customer and employee loyalty services. John Paul's over 1,000 employees around the world come from the most eminent palaces and are available 24/7 to cater to their customers' every request, from the simplest to the most extraordinary, anywhere around the globe. John Paul's 50,000-partner worldwide network, powerful proprietary CRM software application, and management platform with embedded 360° personalization and profiling capabilities, put the company in a position to deliver comprehensive and trailblazing loyalty solutions in many industries.
For John Paul, which is already very active in the travel industry, this move is an unrivalled opportunity to cement its expertise and partnerships through the AccorHotels Group's 4,000+ hotels and 3,000+ restaurants worldwide. AccorHotels will leverage John Paul's expertise to take the Group's strategy – placing customers at the center of everything it does – to the next level, and to generate new revenue streams from services.
AccorHotels and John Paul will join their innovation-driven and service-focused cultures to provide the best travel experience.
John Paul CEO David Amsellem said, "I'm very excited about the idea of working with the AccorHotels Group at such a crucial phase in its transformation. The synergies with the group will afford us unparalleled competitive advantages in a market where there are more opportunities than ever before. This transaction will be a catalyst for our development, meaning organic growth and consolidation alike."
AccorHotels CEO Sébastien Bazin added, "I'm very happy to be able to work with David Amsellem. John Paul is a great find in the customer relations business. Starting today, we will be combining our expertise, strengths and talents, and providing an even broader choice of services to treat all travelers to the best experience before, during and after their stays."
ABOUT JOHN PAUL
JOHN PAUL is the leading global loyalty group powered by premium concierge services. We enable our clients to generate proximity with every customer and employee. From designing the customer journey to creating bespoke affinity programs, we offer a unique 360-degree approach to elaborate premium relationship and membership strategies worldwide. Expert in driving long-term customer engagement, John Paul reinvented one of the most beautiful jobs in the world: the grand hotel Concierge equipped with the latest tools from the digital revolution, creating the Enhanced Concierge. With over 1,000 employees spread over the five continents, copyrighted technological tools, and an exclusive partners network, we offer organizations the best service experience for their most valuable targets 24/7.
For more information visit johnpaul.com.
About Accor, a world-leading hospitality group
Accor is a world-leading hospitality group offering stays and experiences across more than 110 countries with over 5,600 hotels and resorts, 10,000 bars & restaurants, wellness facilities and flexible workspaces. The Group has one of the industry's most diverse hospitality ecosystems, encompassing around 45 hotel brands from luxury to economy, as well as Lifestyle with Ennismore. ALL, the booking platform and loyalty program embodies the Accor promise during and beyond the hotel stay and gives its members access to unique experiences. Accor is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity, and inclusivity. Accor's mission is reflected in the Group's purpose: Pioneering the art of responsible hospitality, connecting cultures, with heartfelt care. Founded in 1967, Accor SA is headquartered in France. Included in the CAC 40 index, the Group is publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information, please visit group.accor.com or follow us on X, Facebook, LinkedIn, Instagram and TikTok.
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