When he came visiting India last year, Denis Hannequin, the chairman and chief executive of Paris-based hotel group Accor, wasn't impressed with his company's performance in India. "Just eight hotels in a decade... I was not happy with the development of the Accor brand in India," he says.
Last week, Hannequin, a former McDonald's chief executive,
returned to India with an aggressive plan that will help Accor add around 75 hotels in the country in three years, taking the number of properties from the current 15 to 90, and making India one of its key markets. The company, which currently generates around 73% of its revenue from Europe, is working on restructuring the Accor brand globally and is hoping to increase its contribution from Asian countries like China and India manifold, Hannequin said, in an exclusive interaction with ET. "There is a major shift taking place globally with focus on revitalisation of the brand portfolio, and resilient and profitable business models. Accor has 5,40,000 rooms, of which 70% are in Europe, there was a need of balancing portfolio between Europe and the rest of the world," he said. In recent times, India has become a hotspot for hoteliers from around the world, with an additional 1,00,000 new hotel rooms expected to come up in the next four-to-five years. Hannequin is not specifically worried about oversupply in India. Instead, he feels that the market is vibrant.
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returned to India with an aggressive plan that will help Accor add around 75 hotels in the country in three years, taking the number of properties from the current 15 to 90, and making India one of its key markets. The company, which currently generates around 73% of its revenue from Europe, is working on restructuring the Accor brand globally and is hoping to increase its contribution from Asian countries like China and India manifold, Hannequin said, in an exclusive interaction with ET. "There is a major shift taking place globally with focus on revitalisation of the brand portfolio, and resilient and profitable business models. Accor has 5,40,000 rooms, of which 70% are in Europe, there was a need of balancing portfolio between Europe and the rest of the world," he said. In recent times, India has become a hotspot for hoteliers from around the world, with an additional 1,00,000 new hotel rooms expected to come up in the next four-to-five years. Hannequin is not specifically worried about oversupply in India. Instead, he feels that the market is vibrant.
Source
Search Jobs with Accor>