Accor plans to open more than 1,200 hotels

The French hotel operator plans to open more than 1,200 hotels in the next five years, as travel demand picks up

Jun 28, 2023

The hospitality industry has benefited from higher prices and a rebound in travel demand in the wake of the pandemic, with consumers rushing to travel even as rising interest rates stoke fears of a recession and inflation erodes household purchasing power.

Key takeaways

  • Chief Executive Officer Sébastien Bazin attributed growth to the confirmation of very broad international demand across different countries, and said he expected swelling demand in almost all of the group's segments and geographies;
  • This demand reflected "the desire to travel, the growth of the middle classes, especially in Asia, and the appetite of younger generations for experiences", the company told Reuters.

Get the full story at Reuters

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