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Hotels

Accor Signs 10-Year Pact With China’s Jin Jiang Hotels

11 months ago

France’s Accor is to work with Jin Jiang International Hotels on developing sustainable practices that cover construction, operations and even financing.

An agreement was formalized this week in Beijing, during the Council of China-France Entrepreneurs.

The memorandum of understanding signing coincided with French president Emmanuel Macron’s visit this week. The leader was also joined by Airbus CEO Guillaume Faury.

The strategic partnership with Jin Jiang is expected to last until 2033, with the “primary ambition” to promote and drive sustainable transformations across the hospitality industry, and reduce the sector’s carbon emissions. They want to reduce utility costs such as water and electricity by 10 percent, and food waste by 30 percent, across both groups by 2030.

The new partnership will also look at potential business cooperation opportunities in “green financing.”

Jin Jiang also holds about 12 percent in Accor, and is one of its biggest individual shareholders. It’s also tried to up its stake in the past.

Both groups have expressed their intention to peak carbon emissions by 2030, and become carbon neutral by 2060, Accor said.

The Chinese group will also launch Accor’s School for Change training program.

Skift Research recently published a report on how hotel companies are showing progress on greener emissions accountability.