2013 Registration document and annual financial report - page 9

Registration Document 2013
7
Corporate Presentation
1
Core Businesses
Accor is the largest hotel group in
Europe
, with a network of 2,603 hotels and 282,255 rooms accounting for 61% of its room base at
December 31, 2013. In other regions, its expertise is deployed through 567 hotels (24% of the room base) in the
Asia-Pacific
region,
242 hotels (8% of the room base) in
Latin America
and the
Caribbean,
148 hotels (6% of the room base) in
Africa
and the
Middle East
and 16 hotels (1% of the room base) in
North America.
Hotel portfolio by region at December 31, 2013
(% based on number of rooms)
31%
Europe (excluding France)
30%
France
24%
Asia Pacific
1%
North America
8%
Latin America and Caribbean
6%
Africa Middle East
Hotel portfolio by segment at December 31, 2013
(% based on number of rooms)
Luxury and upscale
Midscale
Economy
13%
40%
47%
Differentiated ownership structures
In developing new hotels, Accor’s strategy is to align their ownership
structure with:
ƒƒ
their positioning (luxury and upscale, midscale or economy);
ƒƒ
the size of the country and type of economy (developed
or emerging);
ƒƒ
their location (large, mid-size or small city);
ƒƒ
their return on capital employed;
ƒƒ
their earnings volatility;
ƒƒ
their EBIT margin.
In mature markets, the Group prefers asset-light ownership
structures based on:
ƒƒ
management contracts in the luxury segment;
ƒƒ
management contracts or franchise agreements in the upscale
segment;
ƒƒ
management contracts and/or franchise agreements in the
midscale;
ƒƒ
franchise agreements in the economy segment in Europe.
In the emerging markets, the Group focuses on:
ƒƒ
management contracts in the luxury and upscale segments;
ƒƒ
joint ventures with local partners in some countries, like India,
and management contracts in the midscale segment;
ƒƒ
all types of ownership structures in the economy segments,
depending on the brand and the location in key cities.
As of year-end 2013, 59% of the room base was operated under
arrangements that limited earnings volatility, such as management
contracts and franchise agreements.
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