Accor background
Organization Background
Accor first opened its Novotel in 1967 in Lille Lesquin. Through decades of operating and developing, Accor now acquire a large brand portfolio vary from luxury to economic around the world. Accor, today, presents in 92 countries with more than 3,500 hotels and 440,000 rooms. Accor’s ambition is to provide innovative and high quality product for the industry. In 2009, Accor have seen a big pressure on their capital in balance sheet. Moreover, their net profit decreases from 575 €millions to -282 €millions. In the annual meeting with shareholder, Accor mentioned the need of increasing operating revenue and reconstruction of capital to reduce debts. Right after the meeting, we have seen Accor sale of multiple hotels in USA and Europe. They also decided to build the second Ibis hotel in Hong Kong opened in 30th August 2010
Location Background
Hong Kong is one of two special administrative regions of China. Located in the southeast coast of China, this city enjoys outstanding infrastructure and deep-rooted financial market. Two of the main industries in Hong Kong are tourism and hotel service. Hong Kong welcomed roughly 27,000 tourists in 2007 and the trend indicated this number to increase sharply each year. In 2009, the economic stroke Hong Kong and affected their financial greatly. However, hotel industry still finds this place a potential market due to its fast recovery by the end of 2009.
Accor’s objectives
After the meeting in 2009, Accor and their shareholder agreed on the aim for future plan:
- Increase market share through higher brand notoriety and better customer satisfaction level
- Optimize the RevPAR index
- Safeguard the expansion plan
On their website, Accor also published the 4 pillars base on which their strategy will follow.
A powerful marketing approach, with a revitalization of the Economy Hotels activity and the Accor brand
Unique operational expertise derived from Accor’s skills and
Accor first opened its Novotel in 1967 in Lille Lesquin. Through decades of operating and developing, Accor now acquire a large brand portfolio vary from luxury to economic around the world. Accor, today, presents in 92 countries with more than 3,500 hotels and 440,000 rooms. Accor’s ambition is to provide innovative and high quality product for the industry. In 2009, Accor have seen a big pressure on their capital in balance sheet. Moreover, their net profit decreases from 575 €millions to -282 €millions. In the annual meeting with shareholder, Accor mentioned the need of increasing operating revenue and reconstruction of capital to reduce debts. Right after the meeting, we have seen Accor sale of multiple hotels in USA and Europe. They also decided to build the second Ibis hotel in Hong Kong opened in 30th August 2010
Location Background
Hong Kong is one of two special administrative regions of China. Located in the southeast coast of China, this city enjoys outstanding infrastructure and deep-rooted financial market. Two of the main industries in Hong Kong are tourism and hotel service. Hong Kong welcomed roughly 27,000 tourists in 2007 and the trend indicated this number to increase sharply each year. In 2009, the economic stroke Hong Kong and affected their financial greatly. However, hotel industry still finds this place a potential market due to its fast recovery by the end of 2009.
Accor’s objectives
After the meeting in 2009, Accor and their shareholder agreed on the aim for future plan:
- Increase market share through higher brand notoriety and better customer satisfaction level
- Optimize the RevPAR index
- Safeguard the expansion plan
On their website, Accor also published the 4 pillars base on which their strategy will follow.
A powerful marketing approach, with a revitalization of the Economy Hotels activity and the Accor brand
Unique operational expertise derived from Accor’s skills and