AccorHotels Acquires Majority Stake in Concierge and Loyalty Provider John Paul
Skift Take
Accor has demonstrated it's serious about getting ahead of the curve across many growing and emerging verticals in hospitality and its acquisition of John Paul is one way for the company to better manage the different guest experiences and create a common concierge platform for all brands.
AccorHotels has made it a habit this year to acquire and invest in companies and technology where consumer demand is shifting and its acquisition of concierge services provider John Paul this week is its latest move in this effort.
AccorHotels Group, which announced its intention to buy a majority stake in John Paul in August and valued the company at $150 million, this week said it's acquiring 80 percent of the company but isn't disclosing the total acquisition amount.
John Paul founder and CEO David Amsellem will retain a 20 percent stake in the company and continue as CEO. "This is an unrivaled opportunity to cement [John Paul's] expertise and partnerships through the AccorHotels Group’s 4,000+ hotels and 3,000+ restaurants worldwide," AccorHotels Group said in a statement.
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