Q&A with John Ozinga
John Ozinga, Chief Officer of the Europe's leading hotel investor and a member of AccorHotels' Executive Committee, underscores the fact that AccorInvest, will further accelerate its growth.
How is the Group’s real-estate business performing?
In 2013, AccorHotels separated its two businesses, that of hotel investor and hotel operator, and set ambitious objectives for AccorInvest.
These objectives have been met. We are now Europe’s leading hotel investor and have completed about 600 real-estate transactions, which together are worth close to €3 billion. Our EBIT margin has doubled, rising from 4% in 2013 to 8% in 2016.
What happened in 2016?
We consolidated this momentum by accelerating the pace of hotel renovations and development. For example, we delivered flagship projects like the Novotel Canary Wharf in London. This audaciously designed, 39-storey building with a capacity of 332 rooms, also obtained the BREEAM sustainability certification with an “Excellent” rating. We also completed refurbishment of the Novotel Abidjan. In addition, our teams pulled off a complex operation involving the sale of the business interest and assets of 85 hotels in Europe to a new franchised operator which will implement an ambitious renovation plan.
What is the next phase?
The project to turn AccorInvest into a subsidiary and open up its capital to long-term investors, is under way. Once it is approved, it will allow us to further accelerate our growth through the renovation, acquisition and construction of hotels.
Of course, this project will also benefit AccorHotels, the Group’s hotel operator business. We will continue to work with AccorHotels over the long term and share the same goal of creating value and performance for our stakeholders.
AccorHotels initiates project to turn HotelInvest into a subsidiary to accelerate its transformation and growth
Message from the Chief Executive Officer.