We are now expanding our playing field in a unique way.
Innovate, surprise, shake up - that’s our vision of hospitality, and it’s a vision that has been deeply rooted in our DNA for nearly fifty years.
Our recent history reflects it, and events in the coming months will more than confirm it. Indeed, the winds of conquest have never blown so strongly at AccorHotels. We intend to prove this daily to our investors, shareholders and partners, as well as to our guests and employees, of course.
Our guest passion drives us to constantly go the extra mile to meet our guests’ expectations. AccorHotels has been experiencing an in-depth cultural transformation since 2015. In my view, this transformation is primarily designed to make each employee, guest and partner feel recognized, expected and valued in every one of our 4,100 addresses around the world. Of course, it is no accident that we chose to launch a new promise through our “Feel Welcome” signature and our name, AccorHotels. It is also what our ambitious digital plan is all about, itself unprecedented in the hospitality industry. Lastly, it is the cornerstone of our new management and talent development model. Our new culture is based on collective and collaborative intelligence, which unlocks the leadership potential of our 250,000 talented employees, encouraging them to dare, to take risks, to be bold. The creation of a shadow executive committee, the Shadow Comex, is a powerful illustration of our shift from a top-down system to a bottom-up organization, where everyone is an agent of collective change.
As a result, with our sector undergoing radical change, it has taken us just three years to demonstrate our ability to adapt fast, and above all to anticipate and invent new forms of hospitality. We intend to build on this momentum.
To reinvent ourselves, I believe we must accept the fact that we can make mistakes, that we might want to see things differently. Most importantly, we must not be afraid to take risks, to blaze new trails, to act like leaders. That is precisely what we did when we created our own marketplace, shared our digital might with independent hotels and became a hotelier that serves other hoteliers, a first in the industry. Similarly, we are now expanding our playing field in a unique way, by creating new brands, acquiring entire companies or sizeable stakes in firms and with them new guests. We are also conquering new markets and offering new services. Our hotelier profession is being fundamentally redefined by our disruptive acquisition strategy and by the entrepreneurial enthusiasm of our employees.
AccorHotels is expanding at a robust pace and projecting itself into the future. We are taking a disciplined approach, harmoniously reinforcing our presence in strategic markets and targeting high potential destinations, with a focus on meticulous expansion. Strategic transactions like the acquisition of Fairmont Raffles Hotels International, the alliance with China’s Huazhu Hotels Group and the partnership with Asian operator Banyan Tree Holding, will further add to our global clout in the years to come.
Our recent record growth reflects the fact that our extensive portfolio of brands is currently one of the most attractive in the sector. I am proud of every single one of these brands. They are strong, complementary and innovative, and will continue to delight all our guests in an ever-growing number of addresses and destinations.
Our passion for hospitality, for serving others, goes beyond the walls of our hotels. It guides our ambitious CSR policy, which I am deeply attached to. It is at the heart of the corporate values which inspire each of our actions. Lastly, it propels us towards new growth opportunities and unchartered territories.
With the unconditional support of our teams around the world, we will forge the hospitality of the future, a sustainable and responsible hospitality, based on an optimistic, bold, innovative vision of our professions. Now that our business model has evolved, giving us the resources to match our ambitions more than ever before, at AccorHotels, we definitely dream big for our future.
Sébastien Bazin, Chairman and CEO