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Accor's CEO Dismissal Signal's Franchise Growth

Category: Hotels, Posted:16 Nov 2010 | 06:00 am

Troubled global hotel chain Accor SA which saw the departure of Chief Executive Gilles Pelisson has signaled the market that it intends to focus on an asset light management approach which includes more franchising.
New top man Denis Hennequin comes from McDonald's Europe and takes on the role as CEO/Chairman.
Mounting pressure from well heeled shareholders Colony Capital and Eurazeo has been relentless on the disposal of non core group assets.
Many industry analyst's point to the institutional luxury brand Sofitel as a possible misfit in the new future plans.
It's been interesting in Asia to see Accor increasingly focus on the limited service sector ibis brand and in China start to manchise properties to spur the pipeline.
The separation a few years ago between Softiel and the remaining multi-brands of Accor failed and since larger scale re-integration has taken place.
For regional observers it's important to note that much of the asset stress is taking place on the European continent, but effects of the new direction will be felt on these far shores.

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