Skift Global Forum Preview: Accor CEO on Future Hotels Being More Than Places to Sleep

A downturn is a terrible thing to waste, business sentiment generally goes. Paris-based Accor certainly hasn’t wasted time accelerating plans to transform the hotel company. The company faced a massive financial setback last year due to the pandemic and its significant exposure to Europe, where lockdowns lasted longer than markets like the U.S. and China. But Accor leaders went to work speeding up plans to beef up the company’s presence in the so-called lifestyle hotel sector, properties that focus more on local experiences and food and beverage outlets. Accor also launched its own special purpose acquisition company and other endeavors focusing on revenue streams beyond the traditional hotel model. How much of that relates to the pandemic? Accor CEO Sebastien Bazin let Skift know in an interview ahead of his appearance later this year at Skift Global Forum, Sept. 21-23 at the TWA Hotel in New York City. Answers have been edited lightly for clarity.

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Skift: How do you see both your company and the hotel industry as a whole growing in the next few years? Will there be that wave of mergers and acquisitions most expected a year ago, or will it be more organic growth of a company’s own brands? Sebastien Bazin: I would say there are three priorities we will be concentrating on at Accor over the coming years. First, of course, we will continue to help and support our partners and employees who have been impacted by Covid-19. That’s always been the most important thing through the crisis. In 2020 we created the ALL Heartist Fund, a €70m-fund which exists to provide financial assistance for employees and individual partners affected by the pandemic. Second, we will remain fully committed to our “Augmented hospitality” strategy, which we are constantly enriching. The hotel sector is evolving rapidly and our goal is to adapt to guests’ changing needs. We want to del