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Buying a company with potential doesn’t mean that company will necessarily fulfill it — just look at what’s happening at AccorHotels.
Accor hoped that by plugging these high-end brands into its wider product portfolio, it would be able to grow them faster than they would on their own. So far this hasn’t happened.
Neither of these companies are duds and Accor, rightly, won’t admit defeat. It either needs to work out what went wrong with the integration and set it right, or leave them to get on with what they do best.
— Patrick Whyte, Europe Editor
5 Looks at Luxury
AccorHotels Takes $288 Million Hit on Onefinestay and John Paul Investments: Uh oh! Is this the start of Accor’s ambitious acquisition strategy unraveling or simply a bump in the road?
Belize Is Latest Test Ground for Luxury Development and Environment: Belize should serve as a case study for conscious luxury development. There will be successes and lessons to watch for in the coming years as the effects of a small group of hoteliers’ decisions play out in the local environment and culture.
Small Luxury Hotels of the World Appoints New CEO: As the big hotel companies increase their focus on soft brand collections, it’ll become even tougher for collections like Small Luxury Hotels of the World, Relais & Châteaux, and Leading Hotels of the World to compete. Ferret has some stiff competition to battle in the coming years.
Travel Sabbaticals Are Catching On for a Privileged Few: A traveling sabbatical sounds like an amazing opportunity, but let’s be real: Most people can’t afford the cost or the time away from work. The rest of America will have to keep taking those affordable weekend road trips.
Manhattan’s NoMad Neighborhood Will Be Home to a $500 Million Luxury Hotel: The NoMad/Garment District neighborhood is seeing plenty of new hotel development, and we at Skift look forward to tracking the trend right here in our own backyard.