The hospitality industry is a broad category of fields within the service industry that includes lodging , food and beverage services , event planning , theme parks , travel agency , tourism , hotels , restaurants , nightclubs , and bars .
53-814: Accor S.A. is a French multinational hospitality company that owns, manages and franchises hotels, resorts and vacation properties. It is the largest hospitality company in Europe, and the sixth largest hospitality company worldwide. Accor operates 5,584 locations in over 110 countries. Its total capacity is approximately 821,518 rooms (end 2023). It owns and operates brands in many segments of hospitality: Luxury ( Raffles , Fairmont , Sofitel ), premium ( MGallery , Pullman , Swissôtel ), midscale ( Novotel , Mercure , Adagio ), and economy ( ibis , hotelF1 ). Accor also owns companies specialized in digital hospitality and event organization, such as onefinestay , D-Edge, ResDiary, John Paul, Potel & Chabot and Wojo. The company
106-570: A 28.9% stake in the French all-inclusive holidays' company Club Méditerranée . In 2005, Gilles Pélisson , nephew of Accor's co-founder Gérard Pélisson , became chairman and CEO. The investment firm Colony Capital invested 1 billion euros in Accor. The firm sold its shares of Club Med in 2006 and Red Roof Inn in 2007. In 2007, Accor launched the serviced-apartments brand Adagio in a 50/50 venture with Pierre & Vacances , relaunched Pullman as
159-680: A 9-11% year-over-year increase in revenue for hotels in FY25. This comes after an estimated 12-14% growth in RevPAR (revenue per available room) in FY24, driven by robust demand outpacing supply. Average room rates across India are projected to rise from around ₹7,200-7,400 in FY24 to ₹7,700-7,900 in FY25, with RevPAR climbing to an average of ₹4,800-5,000 by end-FY24. The recovery is fueled by healthy domestic leisure and business travel demand, complemented by increasing foreign tourist arrivals. While new supply
212-565: A beachfront, sharing communal washing facilities. Such villages have been replaced with modern blocks or huts with ensuite facilities. Because of reckless spending, the club was on the verge of bankruptcy in 1961. It was saved by the 35-year-old Baron Edmond de Rothschild after he had visited a resort and enjoyed his stay. With Rothschild financing, the number of villages increased greatly under Trigano's leadership from 1963 to 1993. Winter villages, providing skiing and winter sports tuition, were introduced in 1956 at Leysin , Switzerland. In 1965,
265-515: A holiday village company to a services company". The club took over a chain of French gyms, launched bar/restaurant complexes known as Club Med World in Paris and Montreal , and commenced a budget resort concept aimed at young adults. Oyyo was the first such resort, opened at Monastir in Tunisia . Thirteen new villages were planned for the new century. The change in strategy was not successful, and
318-614: A low-priced summer colony of tents on the Spanish island of Majorca , followed by another on the island of Djerba (Tunisia). A better entertainer than businessman, Blitz went bankrupt in 1953. His main creditor was his tent supplier Gilbert Trigano, the French "King of Camping;" Trigano took control of the club and slowly pushed Blitz aside. The first official Club Med was built the next year in Palinuro , Salerno, Italy. The original villages were simple: Members stayed in unlit straw huts on
371-540: A premium hotel brand, and the Australian All Seasons as a global midscale hotel brand. In 2008, it launched the MGallery collection of upscale "personality" hotels. In November 2010, Gilles Pélisson was replaced by Denis Hennequin as the head of Accor. Accor split its hotel activities from its voucher activities, Accor Services (which became Edenred and was listed on the stock exchange). Suitehotel
424-515: A takeover deal of Club Méditerranée S.A. The acquisition culminated a bidding war that began in May 2013, which was conducted by Gaillon, a special investment vehicle used by Fosun, to execute its bidding for Club Med. The two-year-long war boosted the price of the company from the initial €541 million "friendly bid" in 2013 up to the final sale price of €939 million ($ 1.07 billion). Gaillon Invest's chairman, Jiannong Qian, believes that Chinese ownership of
477-539: A total of 32,313 accommodation establishments with 611,352 rooms, including 1,576 hotels with three stars or higher with 334,487 rooms. Despite this, the Vietnamese hotel industry is still considered to have great potential for development in the future. According to the forecast of the World Tourism Organization (UNWTO), Vietnam will be one of the top tourist destinations in the world in
530-480: Is a French travel and tourism operator headquartered in Paris , specializing in all-inclusive holidays. Founded in 1950, the company has been primarily owned by the Chinese conglomerate Fosun Group since 2013. Club Med either wholly owns or operates nearly eighty all-inclusive resort villages in holiday locations around the world. The club was founded in 1950 by Belgian entrepreneur Gérard Blitz . Blitz had opened
583-466: Is a quasi-commercial for the now-closed Club Med village in the U.S. ski resort at Copper Mountain , Colorado . The 1986 ABC TV movie Club Med stars Jack Scalia and Linda Hamilton as a Club Med manager and guest, respectively, who fall in love. In 2004, a Korean TV drama broadcast by MBC titled First Love of a Royal Prince was filmed in Club Med Bali, Sahoro, and Bora Bora . In
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#1732790925400636-431: Is expected at a 4-5% CAGR over 4-5 years adding over 50,000 branded rooms, this delayed catch-up will allow demand-supply dynamics to gradually align. The CareEdge report notes a better balance emerging across segments like upscale, upper midscale and midscale/economy, reducing the earlier concentration in luxury/upper upscale. With high occupancies of 68-70% forecast for FY25, the strong RevPAR growth should aid in improving
689-645: Is headquartered in Issy-les-Moulineaux , France, and is a constituent of the CAC Next 20 index on the Paris stock exchange. In 1967, Paul Dubrule and Gérard Pélisson founded the hospitality group Société d'investissement et d'exploitation hôteliers (SIEH) and opened the first Novotel hotel outside Lille in northern France. In 1974, the first Ibis hotel was launched in Bordeaux , France. Ibis
742-629: Is often not a one-to-one equivalent to the term "hospitality industry" used in English, which is often used more broadly. According to the Cambridge Business English Dictionary the "hospitality industry" consists of hotels and food service, equivalent to NAICS code 72, "Accommodation and Food Service". However, the United States Department of Labor Standard Industry Classification (SIC) defines
795-460: Is still charged a membership fee upon joining, and returning customers are charged an annual fee as well. In the 1990s, the club's fortunes declined because competitors copied its concepts and holidaymakers demanded more sophisticated offerings. Other reasons explain its demise: the arrogance of the Triganos, who were convinced that they could buy any property, even one in a bad location, put on it
848-593: Is taking full ownership of SBE's Hotel assets (except Hudson Hotel in New York and Delano in Miami) as part of its simplification and asset-light strategy. It introduced Mövenpick Living as an extension of Mövenpick brand for extended stay segment. The company announced its strategic plan to focus on lifestyle hospitality. In 2021, Accor introduced the SPAC Accor Acquisition Company (AAC) on
901-690: The Mövenpick Hotels & Resorts (84 hotels in 27 countries), and the restaurant reservation and table management company ResDiary. AccorHotels partnered with Katara Hospitality to set up a $ 1-billion Africa -focused investment fund. China Lodging Group bought 4.5% of AccorHotels. In 2019, the 21c Museum Hotels that acquired in the previous year were added to the MGallery collection. Its digital marketing companies for hotels (Availpro, Fastbooking) were merged into D-Edge Hospitality Solutions. The group took full control of Orbis (Its subsidiary AccorInvest acquired 98.6% shares of Orbis). Accor launched
954-475: The Paris stock exchange , raising 300 million euros to lead investments in hotel-related businesses, sold a 1.5% share in the Chinese hotel management company Huazhu , and invested in the Indian tech hospitality company Treebo. In October 2021, Qatar's Supreme Committee for Delivery & Legacy had signed an agreement with Accor to manage World Cup fan accommodation during the 2022 FIFA World Cup . According to
1007-559: The "Luxury & Lifestyle" organized in four brand collections (Raffles & Orient Express, Fairmont, Sofitel & MGallery, Ennismore). The group sold its remaining stake in H World Group Limited and announced the launch of Orient Express Silenseas, a luxury cruise built with Chantiers de l'Atlantique and planned for delivery March 2026. The construction of the first ship started in March 2024. joint-venture Board of directors as of January 2022: Hospitality company According to
1060-724: The 3-star hotel brand SuiteHotel in 1999. In 2000, Accor took full control of Century International Hotels and Zenith Hotels International in Asia, bringing its number of hotels to 200 in the Asia-Pacific zone. The Sofitel Philadelphia (former Philadelphia Stock Exchange Building) was inaugurated, the first Sofitel to open in the US in a decade. Accor bought 20% of the Polish hotel company Orbis. In 2002, Accor settled in Mexico. In 2004, Accor bought
1113-472: The Cambridge Business English Dictionary the "hospitality industry" consists of hotels and food service, equivalent to NAICS code 72, "Accommodation and Food Service". In 2020, the United States Department of Labor Standard Industrial Classification (SIC) defines the hospitality industry more broadly, including: In the United States, hotels are the most popular vacation accommodation. In 2022,
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#17327909254001166-591: The China Lodging Group ( Huazhu Hotels Group - 1900 hotels) to develop its hotel brands in China. In June 2015, Accor changed its name to AccorHotels and announced a new digital strategy to federate its brands. The firm acquired FRHI Hotels & Resorts in 2015, owner of the Fairmont , Raffles , and Swissôtel luxury hotels. In 2016, AccorHotels acquired the concierge and loyalty service John Paul,
1219-627: The London-based short-term vacation rental company onefinestay , 30% of the German 25hours Hotels, and 30% of the Miami-based accommodations provider Oasis. The firm also launched Jo&Joe in 2016, a new hotel brand aimed at millennials, and signed a strategic alliance with Singapore's Banyan Tree . HotelInvest was spun off. In 2017, AccorHotels acquired the B2B hotel service provider Gekko,
1272-586: The Solo Transatlantic Race Plymouth-Newport to his enemy Eric Tabarly. It renamed it Club Médiderranée and based it in Martinique for 2-3-day cruises. Another huge success, so, the club built a second one, a monster named Club Med 2. The club has also ceased to be a club in the legal sense, changing from a not-for-profit association to a for-profit public limited company (French SA ) in 1995. However, each new customer
1325-648: The US-based economy lodging company Red Roof Inn (322 hotels), and announced the creation of Accor Economy Lodging to bring Motel 6 and Red Roof Inn under one roof. Along with Colony Capital , it acquired the hotel brands Libertel and Demeure (40 properties in Europe). Accor settled in the United Kingdom with the opening of a Sofitel in the previous Cox & Co bank in Central London . Accor launched
1378-461: The acquisition of the fine catering company Potel & Chabot, and the event and entertainment organization company Noctis (renamed Paris Society). In 2018, AccorHotels sold 55% of HotelInvest for €4.4 billion and renaming it AccorInvest and launched a tender offer to take full control of Orbis. It acquired the Mantra Group (134 hotels under the brands Mantra, Peppers, Breakfree, Art Series),
1431-461: The agreement Accor will provide staff to manage and operate more than 60,000 rooms in apartments and villas. The same month, Accor and Ennismore finalized their joint-venture of 14 hotel brands. Accor was the majority stakeholder (then sold 10.8% to a consortium of Qatari investors), and the founder of Ennismore Sharan Pasricha held a minority stake. Accor and the Italian hotel group Arsenale announced
1484-412: The certification agency Bureau Veritas launched a label guaranteeing high safety and cleanliness measures in the group's hotels and restaurants, and signed a strategic partnership with the insurance company Axa to provide medical assistance to the guests of its hotels worldwide. In 2020, Accor opened more than 200 new hotels including its flagship Raffles Bali. On 24 November 2020, it announced that it
1537-510: The club fell into a deep loss following the 11 September 2001 attacks in the U.S. In 2002, a new CEO, Henri Giscard d'Estaing , son of the former French President, was appointed. His strategy was to refocus on the holiday villages and attract upmarket vacationers. Club Med World Montreal and many villages, particularly those in North America or with more basic facilities, were closed. The club returned to profitability in 2005. In 2004,
1590-511: The coming years. This will create opportunities for the development of the Vietnamese hotel industry. According to statistics from the Vietnam National Administration of Tourism , the Vietnamese hotel industry has had an average growth rate of 15% per year in the period 2010-2022. Club M%C3%A9diterran%C3%A9e Club Med SAS , commonly known as Club Med and previously known as Club Méditerranée SA ,
1643-409: The company is crucial to tap into China's huge population of potential tourists. Following the takeover, Chairman and President of Club Méditerranée SA, Henri Giscard d'Estaing , was named President of Club Med SAS. In Jean-Luc Godard 's ' La Chinoise ' (1967), the character Guillaume ( Jean-Pierre Léaud ) talks about his father who had fought Germans in the war, now ran Club Med resort working along
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1696-643: The credit profile of industry players. In 2015 the United Kingdom hospitality industry employed around 2.9m people – around 9% of the UK workforce. By employment, it is the UK's fourth-largest industry. The most jobs in the industry are found in London (around 500,000) and South East England (around 400,000); 18% of workers in the UK industry are in London. There are around 1.5m restaurant workers, and around 0.5m work in hotels. The Food Safety Act 1990 introduced
1749-640: The firm acquired the economy lodging company Motel 6 (536 motels in the United States). In 1991, it acquired the Compagnie Internationale des Wagons-Lits , which owned Pullman Hotels and Resorts , Altea, and Europcar . Accor also launched another economy hotel, Etap Hotel. In 1994, it merged the Compagnie Internationale des Wagons-Lits with Carlson Travel Network to create Carlson Wagonlit Travel (now CWT ). In
1802-738: The first club outside the Mediterranean was opened in Tahiti . Club Med broadened its reach by opening villages in the French Caribbean (Guadeloupe and Martinique). Originally attracting mainly singles and young couples, the club later became primarily a destination for families, with the first Mini Club opening in 1967. Club Méditerranée S.A. had a branch in the USA named Club Méditerranée Inc, with several partners including Crédit Lyonnais and American Express. In 1974, upon his arrival as
1855-650: The hospitality industry more broadly, as noted above. The Dutch Uniforme Voorwaarden Horeca (UVH) is translated into English as Uniform Conditions for the Hotel and Catering Industry. This code covers hotels, bars, restaurants and related businesses in the Netherlands. Koninklijke Horeca Nederland is the Dutch trade association for the hotel and catering industry. This sector is one of the fastest growing in Europe. In 2004, more than 7.8 million people were employed and
1908-481: The hotel and motel industry in the United States was a $ 224.9 billion market, measured by revenue. Horeca (also HoReCa , HORECA ) is the Dutch, German, Italian, Romanian, Portuguese and French languages term for the food service and hotel industries. The term is a syllabic abbreviation of the words Ho tel / Re staurant / Ca fé . The term is mostly used in the Benelux countries and Switzerland . "Horeca"
1961-461: The hotel group Accor became the largest shareholder, but it sold most of its stake in 2006, announcing that it wished to refocus on its core businesses. From 2001 onward, the resort company worked to rebrand itself as upscale and family-oriented. In 2006 and 2007, Club Med and its partners dedicated a total of $ 530 million to renovate several resorts. In February 2015, Fosun International Ltd.'s Gaillon Invest II and The Silverfern Group finalized
2014-888: The launch of the Orient Express La Dolce Vita luxury trains. and the groups started to test urban autonomous cars with Citroën and JCDecaux . Accor committed to decarbonize all its operations, aiming 46% emission reduction by 2030 and net zero by 2050, a plan validated by the Science Based Targets Initiative . The group then issued its first sustainability-linked bonds for an amount of 700 million euros. In 2022, Accor bought Cunard's Queen Elizabeth 2 from PCFC Hotels and launched its All-Inclusive Collection. In 2023, Accor restructured into two distinct business units: "Economy, Midscale & Premium" unit (Ibis, Novotel, Mercure, Swissôtel, Mövenpick, Pullman, TRIBE from October 2023) and
2067-484: The lines of concentration camps. In regards with the Situationalist slogan, this scene establishes an image from Dal lake of Indian-occupied Kashmir . The phrase "Club Med- a cheap holiday in other people's misery" appeared as a Situationist slogan, written in graffiti in Paris, May 1968. The phrase was described as a commentary on alienation, domination, and "the false promises of modern life". The slogan
2120-435: The mid-90s, Accor shifted its interest towards luxury and premium brands, and moved towards an asset-light model to focus on brand and product management, rather than property management. Economy and midscale brands remained the group's cash cow and enabled it to invest in less profitable but strategic upscale and luxury brands. In 1997, the firm acquired the casino company SPIC, which became Accor Casino. In 1999, it acquired
2173-400: The name "Club Med" and it would be a success; they multiplied the villages, so many so fast that they could not find enough good "chefs de village", who make the villages what they are: bad chef = bad village. In 1997, the shareholders finally understood and sacked the two Triganos and replaced them with Philippe Bourguignon , former CEO of Novotel USA. Bourguignon aimed to change the club "from
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2226-542: The name of the mother company as well. In the early 1970s the club had bought from her owner Claude Lelouche the famous revolutionary three-mast sailing boat Vendredi 13, installed 4 berths and a bath-room, and based her at the Buccaneer's Creek village in Martinique for one-day to several day cruises. Huge success among members, so, in 1976, it bought the huge sailing boat built by solo sailor Alain Colas, who had just lost
2279-623: The new CEO of the club for North America, Jean Lallement, one of the first members of the club and responsible for its large presence in Italy, hired as marketing manager the French HEC Jacques Bacon, who made the club a huge success within 3 years through an aggressive and very efficient promotion; it was he who suggested the name Club Med. The new name was at that time reserved to the North American market, but later became
2332-982: The new midscale hotel brand Tribe (born under the Mantra Group Management). After buying 50% of the SBE Entertainment Group (owner of Mondrian Hotels ) in October 2018, Accor and SBE jointly launched the luxury hotel brand The House of Originals, and the premium hotel brand Hyde in Australia . In September 2019, Accor launched its first environment-conscious hotel brand, greet, with the first hotel opened in April that year in Beaune . On 3 December 2019, Accor repositioned its brand as ALL - Accor Live Limitless. The update merged Accor and its loyalty offering Le Club into one unified brand, ALL. In
2385-483: The premier apartment hotel brand The Sebel. In August 2013, Sébastien Bazin became chairman and CEO of Accor. He introduced a new economic model around two poles: HotelServices, which operates and franchises hotels, and HotelInvest, which owns hotels and leads investments. In 2014, Accor bought a 35% share in Mama Shelter (5 hotels) whose chief designer is Philippe Starck , and signed a strategic alliance with
2438-640: The private sales website for hotel deals VeryChic, and merged Squarebreak and Travel Keys into onefinestay, and launched the MoodMatch app on its website through a partnership with Travelsify. On the same year, AccorHotels also acquired 50% of the Orient Express brand in a move to relaunch it as a luxury hotel brand. the group announced its strategic intention (dubbed Accor Local) to broaden its marketing to locals, instead of targeting only visitors and travelers. It also diversified its portfolio of assets with
2491-489: The sector generated more than $ 338 billion in turnover. Jobs tend to be temporary, with irregular hours, low pay, and few career prospects. There is a high proportion of young people working in the sector. Some distribution companies use this term to define the food & beverage service trade channel or the hospitality trade. The hotel industry in India is poised for continued strong growth, with CareEdge Ratings forecasting
2544-544: The training that staff have to follow. Around 25% of the hospitality workforce comes from the EU, making up around 25% of chefs and around 75% of waiting staff. In 2019, 1 in 50 applicants to Pret a Manger was British. The hotel industry in Vietnam is an important economic sector, contributing significantly to the country's GDP. According to statistics from the Vietnam National Administration of Tourism , in 2022, Vietnam had
2597-587: The wake of the COVID-19 pandemic , Accor created CEDA (Coronavirus Emergency Desk Accor), a platform centralizing needs and providing accommodation solutions in France for front-line medical staff and vulnerable populations. The group allocated 70 million euros to launch the ALL Heartist Fund which was designed to assist employees and individual partners experiencing great financial difficulties. Accor and
2650-623: Was introduced to the Paris stock exchange the same year. Accor is based on the word "Accord" meaning "agreement" in French. In 1984, Accor bought the Quiberon thalassotherapy center, which became the first of the Thalasso Sea & Spa brand, and acquired the fine catering company Lenôtre the following year. In 1985, the firm launched Formule 1 , a brand of low-cost hotels. The buildings themselves were modular blocks manufactured in factories and assembled onsite to minimise costs. In 1990,
2703-585: Was later given a nod to in the opening lyrics of the Sex Pistols song " Holidays in the Sun ". The Club Med style of vacation was satirized in the 1978 film, Les bronzés (released in English as French Fried Vacation ) directed by Patrice Leconte . Sequels Les Bronzés font du ski and Les Bronzés – Amis pour la Vie were released in 1979 and 2006 respectively. The 1983 film Copper Mountain: A Club Med Experience , starring Jim Carrey and Alan Thicke ,
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#17327909254002756-608: Was merged with Novotel. In 2011, Accor revamped the Ibis brand by creating ibis Styles (formerly All Seasons) and ibis budget (formerly Etap Hotel). The group sold the fine catering group Lenôtre, and the Compagnie Internationale des Wagons-Lits . In 2012, the group launched the regional premium brand Grand Mercure in China (MeiJue), and sold Motel 6 . In 2013, Accor redefined its group business model on two core competencies: hotel operator and brand franchisor (HotelServices), and hotel owner and investor (HotelInvest). The group acquired
2809-632: Was then considered a light version of Novotel. In 1975, Novotel-SIEH acquired the restaurant brand Courtepaille and the Mercure hotels. In 1980, Novotel-SIEH acquired the Sofitel hotels (43 hotels). In 1981, Novotel-SIEH entered the Asian market with the opening of a Novotel in Singapore . In 1983, Novotel-SIEH acquired and merged with the group Jacques Borel International to create the Accor group, which
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