BERLIN — Jean-Jacques Morin, deputy CEO of the premium, midscale and economy brands division at Accor, said he is confident the French hotel firm will meet its goals for 2023, despite macroeconomic challenges continuing to loom.
A restructuring of the company is helping to support those goals. Since Jan. 1, Accor has operated as two distinct divisions: the one that Morin oversees, as well as a luxury and lifestyle division. The premium, midscale and economy division comprises approximately 90% of the company's operating hotels and in terms of revenue, approximately 75%.
Speaking exclusively to Hotel News Now at the International Hotel Investment Forum, Morin said the goal for his part of the company is to secure “density, and making sure you get the presence.”
He said that with the firm moving significantly in the past decade from asset-heavy to an asset-light, it has “now more than tripled the number of brands, and because of that the need to handle those businesses differently is paramount.”
He said Accor's brands have a tremendous capability to further grow.
“The ability to grow is being buoyed by the return of Chinese travelers,” Morin said, adding that April was the first month in which revenue per available room in China surpassed 2019 levels.
In its latest quarterly earnings results, Accor announced revised guidance for full-year 2023 to double-digit RevPAR growth between 10% and 14%.
“It translates the very dynamism of the regions in which we are and notably the recovery of Asia,” Morin said.
“Yes, I am confident,” he added.
For more of Morin’s comments, watch the video above.