The Accor Model
By Georges Panayotis, President & CEO - MKG Group
The governance crisis that is affecting the Accor group would have at least had the merit of stimulating a little bit of awareness of turbulent circumstances. The group changed its status, passing from the target of criticism to an object of appeals. It is when the boat reels that one remembers that it is the flagship of a whole fleet that is quite happy to profit from its wake.
- And yet, who prompted hoteliers to get up to speed on new technologies and service requirements?
- Who put the feet of several generations of employees and managers in the stirrups, by offering them real international career paths?
- Who spread the idea of French lifestyle over every continent by inspiring tourists to visit the Hexagon?
- Who stirred the desire of many investors to become entrepreneurs and franchisees by helping them succeed, if they are less fortunate?
There are not enough economic sectors where French enterprises are major players on the global scene. Accor is one of those to which the various successive governments have attached so much importance. The automobile or aeronautical industry is so much more rewarding…
Today, as on many occasions in its past, the group is going through some turbulence, with the difference that they are more exposed in the public sphere. The context has also changed, all of the professionals are concerned as in less than half a century, the Accor has integrated national heritage by developing an economic model that serves as a reference.
The competitors and critics of yesterday know that the future of the group will also determine the conduct of their own affairs. It is at the same time a debate of divergent strategies as well as an occasion to raise awareness of the vitality of a group that belongs to its employees, as well as its franchisees, clients, and investors. Each has its own logic and can legitimately justify its expectations. Wisdom would want each to agree with conviction on the balance between a financial vision and an industrial challenge that needs time to settle.
This is not the first crisis the group has dealt with and it will recover from it again as its fundamentals are sane. It is not in the forefront of global groups with impunity without a talent to seize opportunities, to bounce back, and to innovate. It is this dynamic that must be preserved if we do not want to weaken the originality of Accor's model.