Skift Travel News Blog

As announced in mid-2022, Accor is now in the process of reorganizing its operational structure into two divisions, the hotel group stated Tuesday.

Deputy Group CEO Jean-Jacques Morin heads the executive committee and serves as CEO of the Premium, Midscale and Economy division, taking in brands such as ibis, Novotel, Mercure, Swissôtel, Mövenpick, and Pullman. Accor structured the unit around four regions: the Americas; Europe and North Africa; Middle East, Africa, Turkey & Asia Pacific, and Greater China.

Group Chairman and CEO Sébastien Bazin leads the Luxury and Lifestyle division, serving as the division’s CEO. This division includes Raffles & Orient Express; Fairmont; Sofitel MGallery & Emblems, and Ennismore.

“Accor’s new organization is now being implemented progressively throughout the first quarter of the year depending on local legislations, particularly regarding the obligations to consult staff representatives,” the company stated. “The new structure will allow the Group to accelerate growth and better address market developments, deliver the highest possible levels of service for all its stakeholders, facilitating accurate and effective fulfilment of guest needs and expectations, and providing clarity and performance to its partners.”

The reorganization brings to the fore the possibility of divestitures, Skift reported in July.

The restructuring of Accor’s operations was originally pegged to take place October 1, 2022.

The following excerpt is from today’s edition of Daily Lodging Report, a subscription newsletter.

The Hoxton is set to expand its global community, with seven hotels lined up to open in some of Europe’s key cities by early 2024.

The Hoxton will open its fourth London hotel in Shepherd’s Bush this December, followed by a huge 18 months with openings in Brussels, Amsterdam, Berlin, Edinburgh, Vienna and Dublin.

The hotels are:

• Shepherd’s Bush with 237 rooms
• Brussels, opening spring 2023 with 198 rooms
• Amsterdam, opening in spring 2023, the second property in the Eastern Docklands district, will offer 136 rooms
• Berlin, opening in summer 2023 with 234 rooms;
• the 211-room Edinburgh property is opening in the summer 2023;
• Vienna will be opening in late 2023 with 196 rooms;
• …and opening in 2024 in Dublin with 129 rooms.

For context on The Hoxton’s parent brand Ennismore, co-owned by Accor, see this video from last month’s Skift Global Forum.

Roch Ventures, a European venture capital fund with Boston Consultant Group ties, announced that Six Senses CEO Neil Jacobs, Ennismore Brand Chief Operating Officer Chadi Farhat, and former Air France Executive Vice President Amel Hammouda have joined the fund’s board of directors.

Bobby Demri, former Boston Consulting Group software innovation director, and Ludger Kuebel-Sorger, senior partner emeritus at Boston Consulting Group, co-founded the fund in January. It aims to make euro 100 million ($102 million) worth of investments in tourism and hospitality companies over the next few years with a focus on European tech and sustainability.

The fund is eyeing seed stage and Series A investments in Europe. It soon plans to open offices in Tel Avis and Frankfurt.

Saudi Arabia’s tourism development fund said it would help invest in the building of lifestyle hotels in the kingdom through a new hotel investment fund worth $400 million (1.5 billion Saudi riyals) that Al Rajhi Capital will manage.

Ennismore, a lifestyle hospitality joint venture with Accor, will pinpoint locations, provide financing options, and lead the development and operation of these projects, which will create about 2,000 hotel rooms.

Ennismore didn’t specify which of its 14 brands — which includes 25hours, The Hoxton, Delano, Gleneagles, Mama Shelter, Mondrian, Morgans Originals, and 21c Museum Hotel — will appear in the kingdom.

Saudi’s tourism development fund (TDF), created in 2020, has $4 billion to drive tourism growth in the kingdom.

Ennismore was founded by co-CEO Sharan Pasricha, who will be speaking at Skift Global Forum in New York.