Creating communities one hotel at a time
Accor's Gaurav Bhushan reports a positive outlook for the current year compared to the first quarter of last year. The company is forecasting a growth of 5-10% this year, with the UK and France expected to be strong. Accor recently underwent a corporate reorganization, dividing the business into two divisions: Premium, Midscale & Economy division and Luxury & Lifestyle division. The latter division will focus on elevating the experience of the guests and making hotels community hubs. The company is also investing in its "Working from_" co-working brand, with upcoming openings in London, Chicago, Brussels, and Dubai. He emphasizes that Accor is focused on driving the business around the hotel, not just travelers, and differentiating product types through their existing brands.
Andrew Sangster: How is current trading?
Gaurav Bhushan: I feel more positive than I did a couple of months ago. Last year, the first quarter wasn’t as strong but trading bounced back; RevPAR for the end of the year was a double-digit growth vs 2019 in line with Q3. We are forecasting positive RevPAR growth for the year. We are currently focused around elevating the experience piece [of our offer].
Where is trading strongest?
Last year most of the growth came from increased room rates, without being a forecast or a guidance, expecting a RevPAR growth more balanced between occupancy and price could be fair.
Read or listen to the full article
The Hotel Yearbook 2023 - Annual Edition
As we have embarked on 2023, it is evident that the hotel industry has made a robust recovery from
the
pandemic.
Occupancy and pricing have returned to their pre-pandemic levels. However, the future of our
industry is contingent
on how nimble the hospitality sector can be in adapting to ongoing innovation, changing market
conditions, evolving
consumer preferences, new staffing challenges, and sustainability realities. These uncertainties are
the new normal
in an unpredictable world.
www.hotelyearbook.com/edition/2023.html
