2013 Registration document and annual financial report - page 20

Registration Document 2013
18
Corporate Presentation
1
Strategic Vision and Outlook
1.5.3. A NEW STRATEGICVISION
In November 2013, Accor presented a new growth strategy based on
the recognition of two separate but strategically related businesses:
ƒƒ
hotel operator and brand franchisor;
ƒƒ
hotel owner and investor.
In line with this distinction, Accor has been reorganized around
two centers of expertise:
ƒƒ
HotelServices,
the hotel operator and brand franchisor, focuses
on providing services to customers and partners and generating
revenue from fees. HotelServices encompasses all of the Group’s
3,576 hotels, which represent a total of 461,719 rooms.The main
performance indicators for HotelServices are the growth in the
hotel network, EBIT margin and more generally the main P&L
indicators. In 2013, 48% of the fees received by HotelServices
came from owned or leased hotels;
ƒƒ
HotelInvest,
the hotel owner and investor, focuses on managing
the asset portfolio and optimizing the return on capital employed.
HotelInvest’s main objectives are to optimize its balance sheet,
increase the value of its assets and generate cash flow. All of
the 1,387 HotelInvest hotels, which represented 189,525 rooms
at end-2013, are operated by HotelServices under management
contracts.
1. HotelServices
Encompassing all of the Group’s hotels, including those under franchise agreements and management contracts, HotelServices is the
world’s No. 1 hotel operator outside North America, with leadership positions in Europe, Latin America, Africa and the Middle East and
the Asia-Pacific region.
A leader in regions with the greatest potential
26%
68%
33%
25%
23%
1.2million
1.6million
4.6million
5.4million
6.6million
≈ 2
≈ 2
< 2
> 15
> 10
Chains
Independent hotels
Asia-Pacific
Latin America
Africa
Middle East
North America
Europe
Growth
opportunities
through conversion
Very competitive
Unique market feature
Rooms available
Rooms per 1,000
inhabitants
Significant growth potential
due to fast-growing local
and international demand
HotelServices is the leading hotel operator in Europe, a market that
offers significant development potential, primarily
via
opportunities
to convert independent hotels, which still account for 74% of the
region’s rooms. In Europe, HotelServices benefits in particular from
the strength of its non-standardized brands, such as ibis Styles,
Mercure and MGallery.
Emerging markets offer even greater development potential, since
most countries in the Asia-Pacific, Latin America and Africa-Middle
East regions are experiencing a shortage of hotel accommodation,
with around two hotel rooms per 1,000 inhabitants
versus
10 in
Europe and 15 in North America. Many opportunities are available
in all segments, whether
via
the conversion of independent hotels,
which significantly outnumber affiliated hotels, or
via
the construction
of new ones. In these markets, growth is particularly strong in the
luxury and upscale segment, with the Sofitel, Pullman and MGallery
brands, as well as local brands such as Mei Jue in China and Maha
Cipta in Indonesia. Reorganized around the ibis megabrand, the
economy segment is also experiencing solid growth in these regions.
1...,10,11,12,13,14,15,16,17,18,19 21,22,23,24,25,26,27,28,29,30,...344
Powered by FlippingBook