Based on case study of Accor Hotels. It will provide you brief introduction of all category of brands and services as well as history and origin of the Accor Hotels.
Based on case study of Accor Hotels. It will provide you brief introduction of all category of brands and services as well as history and origin of the Accor Hotels.
Marriott International, Inc. is an American diversified hospitality company that manages and franchises a broad portfolio of hotels and related lodging facilities. Founded by J. Willard Marriott, the company is now led by President and Chief Executive Officer Arne Sorenson. Today, Marriott International has more than 3,800 properties in over 74 countries and territories around the world.
Study about Lemon Tree budget hotels , comparing with ginger hotels, fortune , courtyard marriott etc. Identify the current business strategy , current problems and limitations and suggest future marketing strategies for the hotel
Introduction of Hospitality Management
An overview about ACCOR HOTELS.
If you would like to download these slides, send me via: nguyenpuyen91@gmail.com with your purpose of download.
Marriott International, Inc. is an American diversified hospitality company that manages and franchises a broad portfolio of hotels and related lodging facilities. Founded by J. Willard Marriott, the company is now led by President and Chief Executive Officer Arne Sorenson. Today, Marriott International has more than 3,800 properties in over 74 countries and territories around the world.
Study about Lemon Tree budget hotels , comparing with ginger hotels, fortune , courtyard marriott etc. Identify the current business strategy , current problems and limitations and suggest future marketing strategies for the hotel
Introduction of Hospitality Management
An overview about ACCOR HOTELS.
If you would like to download these slides, send me via: nguyenpuyen91@gmail.com with your purpose of download.
BTO 2014
2 e 3 dicembre, a Firenze in Fortezza da Basso
Jean Luc Chretien
Executive Vice President Sales, Distribution and Loyalty Accor
Contrastare le OTA: le strategie delle grandi compagnie di hotellerie
Day TWO | Emirates Hall [VISIONI] | 10.15 - 11.00
http://www.buytourismonline.com/eventi/beat-ota/
Jean Luc Chretien, Executive Vice President of Marketing and Distribution Accor, racconta le politiche di distribuzione del suo gruppo, le strategie, i risultati ottenuti.
The Top 15 Most Powerful Travel and Entertainment Brands of 2015Tenet Partners
With the busy summer travel season now in full swing, brand innovation and marketing consultancy Tenet Partners recently revealed its ranking of the Top 15 Most Powerful Travel and Entertainment Brands. The Walt Disney Company leads as the number #1 brand, with Hilton Hotels & Resorts and Marriott International taking the second and third place, respectively. These brands are ranked by a unique, quantitative measure called BrandPower. Based upon an annual U.S. survey of approximately ten thousand opinion elites and business decision makers, BrandPower is a weighted composite of two key metrics that contribute to a brand’s ability to drive long-term growth: Familiarity and Favorability. Familiarity measures awareness of the brand. Favorability is the perception of the brand (among those who are well aware of it), and is based upon three attributes that tie directly to future business performance: Overall Reputation, Perception of Management, and Investment Potential.
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Valorizzare la Legacy di EXPO per sviluppare la destinazione Milan - G. PalmucciMTM IULM
"Valorizzare la Legacy di EXPO per sviluppare la destinazione Milano" - 27 Ottobre 2015 - Intervento di Giorgio Palmucci, Presidente di Confindustria alberghi
L’italia e milano in occasione di EXPO 2015 [Eng]MTM IULM
Il Master in Tourism Management (MTM) presenta i risultati di un progetto pilota che rappresenta un proof of concept in vista dello sviluppo di un sistema di monitoraggio innovativo per la destinazione Italia e per Milano (Destination Monitor) in grado di orientare imprese e istituzioni del turismo nello sviluppo e nella comunicazione di offerte mirate a specifici mercati internazionali. Il progetto si articola in due sezioni: a) Interviste dirette ai turisti stranieri presenti a Milano nel periodo di Expo Attraverso interviste dirette a centinaia di visitatori presenti a Milano in occasione di Expo, i risultati del progetto MTM offrono indicazioni utili sulla gestione del post-evento: • Esiste una difendibilità del prodotto Italia, che si caratterizza per una forte unicità percepita ed un elevato interesse dei visitatori a ritornare • Esiste un forte potenziale per lo sviluppo di nuovi prodotti non convenzionali, che toccano destinazioni minori e nuove tematiche, rivolti a specifici segmenti di turisti • Emerge la necessità di una DMO per: o Rafforzare il potere negoziale della destinazione Italia verso i grandi player online o Organizzare l’offerta secondo le nuove tendenze della domanda o Migliorare l’esperienza di visita dei turisti attraverso il miglioramento dei servizi di supporto e una accorta pianificazione strategica b) Esperimento di analisi dei contenuti visuali Attraverso un’analisi qualitativa delle immagini postate su Instagram da turisti stranieri e da quelle comunicate da Explora, il progetto MTM dimostra le potenzialità dell’analisi di visual contents per orientare le strategie di sviluppo e comunicazione dell’offerta turistica di Milano e dell’Italia per l’attrazione di visitatori internazionali.
L’italia e milano in occasione di EXPO 2015 [ITA]MTM IULM
Il Master in Tourism Management (MTM) presenta i risultati di un progetto pilota che rappresenta un proof of concept in vista dello sviluppo di un sistema di monitoraggio innovativo per la destinazione Italia e per Milano (Destination Monitor) in grado di orientare imprese e istituzioni del turismo nello sviluppo e nella comunicazione di offerte mirate a specifici mercati internazionali.
Il progetto si articola in due sezioni:
a) Interviste dirette ai turisti stranieri presenti a Milano nel periodo di Expo
Attraverso interviste dirette a centinaia di visitatori presenti a Milano in occasione di Expo, i risultati del progetto MTM offrono indicazioni utili sulla gestione del post-evento:
• Esiste una difendibilità del prodotto Italia, che si caratterizza per una forte unicità percepita ed un elevato interesse dei visitatori a ritornare
• Esiste un forte potenziale per lo sviluppo di nuovi prodotti non convenzionali, che toccano destinazioni minori e nuove tematiche, rivolti a specifici segmenti di turisti
• Emerge la necessità di una DMO per:
o Rafforzare il potere negoziale della destinazione Italia verso i grandi player online
o Organizzare l’offerta secondo le nuove tendenze della domanda
o Migliorare l’esperienza di visita dei turisti attraverso il miglioramento dei servizi di supporto e una accorta pianificazione strategica
b) Esperimento di analisi dei contenuti visuali
Attraverso un’analisi qualitativa delle immagini postate su Instagram da turisti stranieri e da quelle comunicate da Explora, il progetto MTM dimostra le potenzialità dell’analisi di visual contents per orientare le strategie di sviluppo e comunicazione dell’offerta turistica di Milano e dell’Italia per l’attrazione di visitatori internazionali.
MTMXI Final Project - Destination Monitor 2 (ENG)MTM IULM
Italy continues to be an authentic and memorable country where travellers still want to return for holidays. However, not only for food and wine, art & culture or fashion, shopping & design. There is a potential that is yet to be exploited to increase the average stay, to seasonally adjust the flow of tourists and to improve the quality of the visitor’s experience to Italy.
MTMXI Final Project - Destination Monitor 1 (ENG)MTM IULM
Italy continues to be an authentic and memorable country where travellers still want to return for holidays. However, not only for food and wine, art & culture or fashion, shopping & design. There is a potential that is yet to be exploited to increase the average stay, to seasonally adjust the flow of tourists and to improve the quality of the visitor’s experience to Italy.
MTMXI - Final Project: Destination Monitor (3/3)MTM IULM
Milano fotografata dai turisti durante Expo ci sorprende: vedono in modo diverso ciò che è sotto i nostri occhi sempre.
- Monumenti in secondo piano, focus sulle persone
- Foto di esterni prevalgono sui particolari interni
- Cibo, ma con molti stereotipi
- Icone tradizionali, ma attenzione ai nuovi luoghi della città
Ce lo dicono i risultati di un’analisi esplorativa delle foto postate spontaneamente dai visitatori su Instagram che MTM IULM ha svolto in collaborazione con Explora a maggio e giugno 2015.
MTMXI - Final Project: Destination Monitor (2/3)MTM IULM
Non solo Roma, Venezia, Firenze, Napoli e Milano. Non solo enogastronomia, arte &cultura e fashion, shopping & design.
Esiste un potenziale ancora da valorizzare per aumentare la permanenza media, destagionalizzare i flussi turistici e migliorare la qualità dell’esperienza di visita. Ce lo dicono i visitatori in Italia per l’Expo, segnalandoci nuovi luoghi e attività che desiderano sperimentare in un futuro viaggio in Italia.
MTMXI - Final Project: Destination Monitor (1/3)MTM IULM
Siamo ancora un paese autentico e memorabile dove si vuole tornare in vacanza.
Ce lo dicono i visitatori in Italia per l’EXPO, comunicandoci aspettative, attività e giudizi studiati in tempo reale da MTM IULM e anticipati in questo documento.
È il primo nucleo del Destination Monitor, strumento innovativo di intelligence sull’evoluzione della domanda turistica per guidare imprese e istituzioni nello sviluppo di offerte mirate a specifici mercati internazionali.
www.mtm.iulm.it
MTM class has analyzed the deep relationship between tourism and a destination, focusing on the case of Cortona and how this town has turned into a mass touristic popular place.
www.mtm.iulm.it
A pilot project for the creation of an innovative and modular hospitality network including a system of non-hotel accommodation facilities that already exist that can be used for Expo 2015 and, in general, for mega events in Milan
Designing itineraries for EXPO2015 - focus on PiacenzaMTM IULM
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Designing itineraries for EXPO2015 focus on Brescia and its provinceMTM IULM
Design 15 thematic itineraries according to the indications provided by Explora in collaboration with a specialized tourism company (UTAT) and local territories focusing on the city of Brescia and its province.
Marketing plan creation for a tourism business development: Kolibri project.
Business idea
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segmentation, targering and positioning
marketing mix
Marketing plan creation for a tourism business development: Hotel Mare Pineta project.
Business idea
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marketing mix
Marketing plan creation for a tourism business development: Generator hostel project.
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consumer behaviour
segmentation, targering and positioning
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Marketing plan creation for a tourism business development: Arancina UK project.
Business idea
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consumer behaviour
segmentation, targering and positioning
marketing mix
Model Attribute Check Company Auto PropertyCeline George
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Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
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This will be used as part of your Personal Professional Portfolio once graded.
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Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
3. What:
• World’s leading hotel operator
• Market leader in Europe
Where:
• 92 countries
Who:
• Sofitel, Pullman, MGallery, Grand Mercure, Novotel,
Suite Novotel, Mercure, Adagio, ibis, ibis Styles, ibis
budget and hotelF1
From luxury to economy
4. Milestones
1967
SIEH (Société d’Investissment et d’Exploitation Hotelier)
70’s-80’s Hotel operations in Brazil, Mexico, USA
90’s World’s leading hotel group
Market leader in the Asia-Pacific region
2000’s
• Launch of accorhotels.com
• Chinese hotel market
• New property managment strategy
• Governance system from a Supervisory Board and
Management Board to a Board of Directors
5. Vision and mission
• Innovation is our trademark
• Performance is the key to our continued
success
• Respect is basis of all our relationships
• Trust is the foundation of our
management
6.
7.
8.
9. Ongoing Projects
Accor is currently implementing 4 major projects aiming to improve results
1) IBIS Megabrand
2) TARS System (booking platform)
3) Expansion
• 38.085 new rooms in 2012
• 70% in Emerging Markets
• 50% are IBIS
• 85% asset-light
4) Asset Management Program
10. Asset management
strategy
• Management of owned hotels
• 200 hotels sold - € 1.3 billion positive impact on consolidated
adjusted net debt as of 2016.
• Management of leased hotels: 600 hotels
• Will improve consolidated operating margin.
11.
12. Accor income
statement 2010-2012
amounts in € millions
CONSOLIDATED INCOME STATEMENT ACCOR 2010 2011 2012
1 Total Revenues 5,948 6,100 5,649
2 Operating expenses* -4,134 -4,177 -3,861
3 Contribution Margin (1-2) 1,814 1,923 1,788
4 Rental Expenses -934 -995 -938
5 EBITDA (3-4) 880 928 850
6 Amortization and depreciation -434 -398 -324
7 EBIT (5-6) 446 530 526
8 Total net financial expenses -112 -92 -58
9 Income before tax and extraordinary items (7-8) 334 438 468
10 +/- Non recurring items -346 -112 -229
11 Income before tax (9-10) -12 326 239
12 Income tax expenses -392 -274 -143
13 Net Income for continuing operations (11-12) -404 52 95
14 Profit or loss for descontinued operations 4,014 -2 -679
15 Net Income (13-14) 3,610 50 -584
* Operating expenses include variable and fixed costs
13. Revenue Trends
5.948
6.100
5.649
5.000
5.500
6.000
6.500
2010 2011 2012
in€million
Accor
Total Revenues
2010 2011 2012
Revenues
+7.1
+5.2
+2.7%
•IS shows relatively stable revenues over the period 2010 to 2012
•Excluding the effects of disposals, asset-right strategy and currency exchange the
Revenues have increased by 15% over the period
•Expansion:
•2010 - €76 mi (1.4% ) – opening of 214 hotels / 25.000 rooms
•2011 - €108 mi (1.8% ) – opening of 318 hotels / 38.700 rooms
•2012 - € 154 mi (2.8% ) - 266 hotels / 38.085 rooms
14. Cost structure
-
500
1.000
1.500
2.000
2.500
3.000
3.500
4.000
4.500
2010 2011 2012
Accor Cost Structure
Other operating expenses
Taxes, insurance and
service charges
Energy, maintanance and
repairs
Employees benefits
expense
Cost of Goods Sold
•Salaries are the main component of the cost structure
•Structure has not changed over the period
•Energy, maintenance and repairs are low mainly due to the very efficient Accor
policy on sustainability (Planet 21)
15. Role of operating
activity on Net Income
•Operating expenses take up to about 85% of the revenues
• Impact of operating expenses on Net Profit is very high, in line with the
industry
•Accor doing a great job in managing these costs
•25% franchising
•Cutting energy costs (Planet 21)
•Efficient management
-
1.000
2.000
3.000
4.000
5.000
6.000
7.000
2010 2011 2012
Impact of operating expenses on Net Income
Revenues allocated to
other costs
Revenues allocated to
cover operating
expenses
16. EBIT Trend
0
200
400
600
800
1.000
2010 2011 2012
in€million
Accor
EBIT
•EBIT increased by 18% over the period 2010 to 2012,
mainly in 2011 due to increase in revenues and decrease in
amortization and depreciation
•Consequences of the asset-right structure
17. Role of non-operating
activities on Net Income
-1.000
0
1.000
2.000
3.000
4.000
5.000
6.000
7.000
8.000
2010 2011 2012
Accor
Revenues distribution Net Income
Net Income for continuing
operations
Income before tax
Income before tax and
extraordinary items
EBIT
EBITDA
Contribution Margin
•Non-operating activities are not relevant for the Net Income
•In 2010, an extraordinary fact added € 4 billion to Net Income.
This was the result of the demerge of Edenred (Prepaid Services).
18. Net Income Trend
-600
-400
-200
0
200
2010 2011 2012
in€million
Accor
Net Income
(excluding discontinued business)
-1.000
0
1.000
2.000
3.000
4.000
2010 2011 2012
in€million
Accor
Net Income
•Looking at the real Net Income (excluding the descontinued business), there was
an improvement
•Increase in revenues
•Decrease in operating expenses
•Decrease in depreciation and amortization
19. Accor Balance Sheet
2010 - 2012
amounts in € millions
CONSOLIDATED BALANCE SHEET ACCOR 2010 2011 2012
1a Quick assets 1,143 1,370 1,878
1b Inventory 41 41 47
1c Current assets 1,367 1,312 1,151
1 Total Current Assets 2,551 2,723 3,076
2 Tangible fixed assets 3,682 3,257 2,592
3 Intangible fixed assets 1,152 1,085 1,104
4 Financial fixed assets 480 549 632
Assets held for sale 813 386 156
5 Total fixed assets 6,127 5,277 4,484
6 Total net assets 8,678 8,000 7,560
7 Current Liabilities (financial and non-financial) 2,336 2,293 2,736
8 Long-term Liabilities (financial and non-financial) 2,393 1,939 1,835
9 Total liabilities 4,729 4,232 4,571
10 Shareholders' equity 3,949 3,768 2,989
11 Total liabilities & Shareholders' equity 8,678 8,000 7,560
20. Assets Structure
•Majority of the assets composed by tangible fixed assets (common in this
sector) – land, property and equipment
•Fast and steady increase in quick assets
•Financial assets are not so relevant
13,17% 17,13%
24,84%
15,75%
16,40%
15,22%
42,41%
40,71%
34,29%
13,27%
13,56% 14,60%
5,53%
6,86% 8,36%9,40% 4,83% 2,06%
2010 2011 2012
Structure of the assets section
Assets held for sale
Financial fixed assets
Intangible fixed assets
Tangible fixed assets
Current assets
Inventory
Quick assets
21. Liabilities and Social
Equity structure
0%
20%
40%
60%
80%
100%
2010 2011 2012
Liability & Equity Structure
as % of Total
Current Liabilities
Non-Current Liabilities
Shareholders' Equity And Minority
Interests
•Well distributed – however equity is lower than total debt
•Current liability increased over the period
•Equity decrease over the period
•Mainly due to short term debt and finance lease – result of the
strategy of switching from owned to lease or management
22. Liabilities nature
•Loans (short and long terms) together account for 51% of the
liabilities
•65% the debt: long-term (mainly 2 years and 5 years)
•35% of the debt: short-term loans
•loans in several different currencies, all hedged by mainly by
swaps
•Other payables account for 25% of the liabilities and are mainly
salaries and taxes
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2010 2011 2012
Liability composition
Liabilities of assets classified as held for
sale
Long-term finance lease liabilities
Deferred tax liabilities
Provisions
Trade payables
Other payables and income tax payable
Short-term debt and fin lease plus
overdrafts
Other long-term financial debt
23. Shareholders’ Equity
Trends
35%
40%
45%
50%
2010 2011 2012
Equity in relation to Total
Liabilities & Equity
•The percentage represented by Equity in the Total Liability &
Shareholders’Equity decreased over the period
• Decrease in the Reserves
-
500
1.000
1.500
2.000
2.500
3.000
3.500
4.000
2010 2011 2012
in€million
Equity composition
Additional paid-in
capital and reserves
Share Capital
26. Accor Financial Ratios
•Current ratio shows that Accor has no liquidity issues, current assets cover
current liabilities
•Equity ratio shows that around 60% of Assets are financed by Debt and 40% by
Equity. The ratio increased over the period, following the already mentioned
decrease in Equity
•ROS remained stable over the period and is in line with sector, caused by
increase in EBIT and also in Revenues
•Reported ROE is very good in 2010 and then it deteriorates in the next 2 years.
•Reason: in 2010 Edenred was demerged, causing a very large profit.
•Excluding the effect of demerging, ROE is actually not that good, showing
that Assets are financed more by debt than by Equity
•However, when compared to main competitor, picture looks a lot better
for Accor
27. Conclusions
• Accor is a very solid group, with a balanced financial structure, good
liquidity, even if level of debt is high in absolute terms (low when
compared to market practice in this sector)
•Company strategy of shifting to light-asset structures (Asset-right
Strategy) seems to be paying off, leading to lower costs and consequently
higher income, expected to be more visable in the future, when strategy
goals are fully met
•In the period analyzed, Accor managed to achieve the objetives defined
by management, keeping in place the Investment Grade rating (BBB-)
•Focus on core business and on becoming global reference in the Hospitality
Industry
•Sustained and active deploiment of the Asset Management program
•Record expansion
•€ 150 mi in free cash flow
•Improvement in ratios and margins
•€ 526 mi in EBIT
•52.6% EBITDAR margin on management and franchise contracts
28. Suggestions
•Keep working on the asset-light strategy
•Increase investments on Planet 21 – aiming at becoming
“Reference in Sustainability”
•Since Accor is active in all segments, with too many brands,
customers find it difficult to relate to the ACCOR brand. We
suggest more investments in Institutional Marketing in order
to create aknowledgement of the institutional brand.