Accor First-half 2020: Immediate measures limiting Covid-19 crisis aftermath
Permanent initiatives to accelerate rebound
Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said: "The shock that our industry is experiencing is both violent and unprecedented. Against this backdrop, we have managed to limit the impact of the crisis: on our performance by taking immediate steps to protect our resources and, thanks to the Group recent years transformation and our sound financial structure; on our employees by implementing concrete and immediate support measures. The peak of the crisis is undoubtedly behind us, but the recovery will be gradual. Having taken these emergency steps, we must now finish the job from an asset-light model to a full asset-light company. Beyond Covid-19, this is essential. Accor must become simpler, leaner, more agile and even closer to the field. These initiatives will enable us to extend our leadership, make our decision process more efficient and boost our recovery. They will be implemented with transparency and candor and, in a spirit true to our values of solidarity and commitment."
During the first half, Accor opened 86 hotels, i.e. 12,000 rooms, illustrating the appeal of the Group to hotel owners. At end-June 2020, the Group had a portfolio of 747,805 rooms (5,099 hotels) and a pipeline of 206,000 rooms (1,197 hotels), of which 75% in emerging markets..
As of August 3, 2020, 81% of Group hotels were open, i.e., more than 4,000 units.
Accor is a world leading hospitality group consisting of more than 5,200 properties and 10,000 food and beverage venues throughout 110 countries. The group has one of the industry"s most diverse and fully-integrated hospitality ecosystems encompassing more than 40 luxury, premium, midscale and economy hotel brands, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor"s unmatched position in lifestyle hospitality – one of the fastest growing categories in the industry – is led by Ennismore, a creative hospitality company with a global portfolio of entrepreneurial and founder-built brands with purpose at their heart. Accor boasts an unrivalled portfolio of distinctive brands and approximately 260,000 team members worldwide. 68 million members benefit from the company"s comprehensive loyalty program – ALL - Accor Live Limitless – a daily lifestyle companion that provides access to a wide variety of rewards, services and experiences. Through its Planet 21 – Acting Here, Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the Group is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity and inclusivity. Founded in 1967, Accor SA is headquartered in France and 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 visit group.accor.com, or follow Accor on Twitter, Facebook, LinkedIn, and Instagram.