Articles tagged “accor”

Sébastien Bazin believes India has untapped potential, and asserts players need to increase their goals and ambitions to cater to the demand of the market.

Hilton CEO Christopher Nassetta led the pack among hotel executives with a total compensation of $56.8 million in 2023, followed closely by Hyatt's Mark Hoplamazian at $56.4 million and Marriott's Anthony Capuano at $55.5 million.

India is a strong player in Accor's global vision. The record-breaking expansion in 2023 is a step towards its goal of opening 30 properties in the country over the next three to five years.

Accor plans to expand its Indian portfolio by introducing 30 new hotels, adding 5,500 rooms over the next 3-5 years, and is set to open luxury hotels including Sofitel Jaipur Jawahar Circle and Raffles Jaipur.

While Raffles is best-known for its classical hotels, the brand is fast-developing in the modern Middle East.

India’s hospitality sector in 2023 saw a record investment of $401 million, marking a near fourfold increase from 2022, with robust growth in hotel transactions, signings, and openings, particularly in tier-two cities, and an optimistic revenue growth forecast for FY2025 driven by spiritual tourism.

CBRE anticipates continued growth in the U.S. hotel industry in 2024, with a 3% RevPAR increase driven by recovery in international travel and strong segments performance, amidst challenges of increasing operational costs and pressure on profit margins.

This is the latest move in a trend by hotel tech companies to create more comprehensive platforms, meant to help clients fulfill more of their needs in fewer places.

Ennismore doesn't have any hotels in India right now, but Sharan Pasricha said deals are cooking and the market is ready.

Accor announced a share repurchase agreement was reached to buy back a block of seven million of its own shares as part of the €400 million share buyback program of Accor for 2024.