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☆ The reason luxury travel is so expensive these days
▼ + stars: | 2024-04-01 | by ( Monica Pitrelli | Helen Iatrou | ) www.cnbc.com time to read: +3 min

Luxury hotel rates reached "peak levels" this year, with average daily rates up 70% compared to 2019, according to the luxury travel company Virtuoso. The price for luxury train travel is also soaring, with rates for Accor's yet-to-be-opened La Dolce Vita Orient-Express climbing 75% in 16 months. When money is 'no object'As inflation and rising costs abate, luxury travel prices are holding firm. Wealthy travelers also value new and different experiences, such as luxury train travel, he said. Booking early can save money on airfares, but hotel pricing works differently, he said.

Persons: aren't, Belmond, Accor, Henry Harteveldt, Harteveldt Organizations: CNBC Travel, Dolce Vita Orient, Orient, Express, Atmosphere Research Group Locations: Italy, Venice

REUTERS/Sarah Meyssonnier/File Photo Acquire Licensing RightsOct 26 (Reuters) - Europe's biggest hotel group Accor on Thursday raised its core profit target for 2023 for the second time this year, citing positive business momentum in all of its markets after another strong post-pandemic summer. The sector continues to benefit from the leisure travel boom despite inflation and the resurgence of recession fears in Europe. It was also boosted by the Rugby World Cup, particularly in cities where hotel supply is more limited, such as Lille and Nantes, Accor said. The group now expects core earnings (EBITDA) of between 955 million euros and 985 million euros for 2023, up from a previous forecast of between 930 million euros and 970 million euros, which was already upgraded in July. It also raised its forecast for growth in RevPAR in 2023 and now expects it to slightly exceed 20%.

Persons: Sarah Meyssonnier, Novotel, Accor, Martine Gerow, Diana Mandiá, Susan Fenton, David Holmes, Sharon Singleton Organizations: REUTERS, Rugby, Lille, Thomson Locations: Issy, Paris, France, Europe, That's, Nantes, Jerusalem, Tel Aviv, RevPAR

☆ Accor is in talks for Potel & Chabot takeover
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: 1 min

July 21 (Reuters) - Europe's biggest hotel group Accor (ACCP.PA) announced on Friday it has entered exclusive negotiations with Andera Partners and partner investors to acquire a 63% stake in Potel & Chabot and become the sole shareholder of the company. The transaction is expected to be completed in autumn, Accor said in a statement. Following this transaction, Potel & Chabot will be consolidated within Accor's Luxury & Lifestyle Division, Accor added. Reporting by Dina Kartit, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Accor, Chabot, Dina Kartit, Louise Heavens Organizations: Andera Partners, Potel, Accor's, Thomson Locations: Potel

☆ The role of the CMO is changing. Here's what 6 experts had to say about marketing amid increased social awareness and new tech.
▼ + stars: | 2023-06-20 | by ( Michael Kaminer | ) www.businessinsider.com time to read: +11 min

This article is part of CMO Insider, a platform that explores how the role of chief marketing officer is evolving. High tech rules, but traditional media still matters, CMOs sayEven with the dominance of social platforms and the emergence of AI, traditional media still plays a key role for brands. "We rely on traditional media for content whose audiences are still engaging that way, whether it's out-of-home or broadcast. In hospitality, "traditional media still plays a huge role," said Accor's Schellenberger. 1 KPI is building awareness, traditional media is still the best way to do it, along with other digital media tools."

Persons: Ewan McIntyre, it's, Alex Schellenberger, Marian Lee Dicus, Kimberly Whitler, Jessica Jensen, Jensen, Colin Kaepernick, hasn't, Marian Lee, I'm, Whitler, Jonathan Adashek, IBM's, Adashek, ChatGPT, Somebody's, Schellenberger, Netflix's, Indeed's Jensen, Accor's, there's, Dicus, Charlotte, Gartner's McIntyre Organizations: Marketing, Accor, University of Virginia's Darden School of Business, Nike, Netflix, IBM, Research Locations: Paris, jobseekers, Germany

☆ Chinese tourists are traveling again — but not the way they used to
▼ + stars: | 2023-03-15 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +5 min

That could mark a significant change in the international travel market, to which Chinese tourists are outsized contributors. In the first half of that year alone, their outbound travel spend surpassed $127.5 billion, a study from Chinese travel booking site Ctrip.com found. Chinese outbound travel is forecast to recover around two-thirds of its pre-pandemic levels in 2023. Leopatrizi | E+ | Getty ImagesBecause of those shortcomings, countries that can accommodate Chinese travelers' shifting needs have emerged as clear winners. Thailand, for instance, offers visas-on-arrival to fully vaccinated Chinese tourists who have travel insurance.

Feb 23 (Reuters) - Europe's biggest hotel group Accor (ACCP.PA) on Thursday forecast higher revenue per available room (RevPAR) for 2023 as Chinese travelers are expected to return, after its annual core profit beat expectations on strong December activity. Hotel chains were hit hard by China's strict pandemic restrictions and are now hoping for a recovery in the Asia-Pacific region, Accor's second biggest market pre-pandemic. Boosted by demand for shorter trips, European hotel chains have seen bookings recover to levels comparable to those in 2019 before the COVID-19 pandemic grounded international flights. Accor's RevPAR, a key gauge of performance for the hotel industry, last year exceeded the 2019 pre-pandemic level by 2%. It posted core profit of 675 million euros ($716.72 million) for 2022, while analysts in a Refinitiv poll had expected 640.3 million euros.

Feb 23 (Reuters) - Europe's biggest hotel group Accor (ACCP.PA) on Thursday forecast higher revenue per available room (RevPAR) for 2023 as Chinese travelers are expected to return, after its annual core profit beat expectations on strong December activity. Hotel chains were hit hard by China's strict pandemic restrictions and are now hoping for a recovery in the Asia-Pacific region, Accor's second biggest market pre-pandemic. The group, which runs chains such as Sofitel, Pullman and Ibis, said it expected 2023 RevPAR to increase by between 5% and 9% from the previous year. Boosted by demand for shorter trips, European hotel chains have seen bookings recover to levels comparable to those in 2019 before the COVID-19 pandemic grounded international flights. It posted core profit of 675 million euros ($716.72 million) for 2022, while analysts in a Refinitiv poll had expected 640.3 million euros.

☆ Hotel group Accor beats profit estimates on strong December activity
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

Feb 23 (Reuters) - Europe's biggest hotel group Accor (ACCP.PA) on Thursday reported annual core profit ahead of market expectations and its own guidance, citing "very good" activity in December. Boosted by demand for shorter trips, European hotel chains have seen bookings recover to levels comparable to those in 2019 before the COVID-19 pandemic grounded international flights. The group, which runs chains such as Sofitel, Pullman and Ibis, posted earnings before interest, taxes, depreciation and amortisation (EBITDA) of 675 million euros ($716.72 million) for 2022, above its outlook range of 610 million to 640 million euros. Analysts on average had forecast EBITDA of 640.3 million euros in a Refinitiv poll. Accor's revenue per available room (RevPAR), a key gauge of performance for the hotel industry, came 2% above the 2019 pre-pandemic level.

☆ Two companies have luxury trains called the 'Orient Express.' Here are the differences
▼ + stars: | 2022-11-22 | by ( Lucy Handley | ) www.cnbc.com time to read: +9 min

The "Orient Express" has been called the "king of trains" and the "train of kings." By the 1970s, the original Orient Express trains had made their last journeys, and the carriages fell into disrepair. The Orient Express 'La Dolce Vita'Accor has more plans to use the Orient Express name. A rendering of the "Orient Express La Dolce Vita," which will connect Rome to cities like Paris, Istanbul and Split. A rendering of a bedroom suite on the "Orient Express La Dolce Vita," showing the train's 1960s-style decor.

SummarySummary Companies Q3 RevPar up 14% from same period in 2019Average pricing in Q3 was 23% above 2019 levelDemand in Asia will "correct itself"Oct 26 (Reuters) - Europe's biggest hotel group Accor (ACCP.PA) reported higher than expected third-quarter revenue per available room (RevPAR) on Wednesday, continuing a sharp improvement in activity since the start of the year after a "gorgeous" summer season. U.S. tourists travelling to Europe took advantage of the dollar's strength against the euro and other currencies, Chief Financial Officer Jean-Jacques Morin said on a call with journalists. Accor's average pricing in the third quarter has been 23% above 2019 levels, the CFO said, adding the capability to earn more fees through inflation needed to be accounted for. However, the situation in Asia will "correct itself", with recovery in China and Southeast Asian countries next year possibly making a difference to the group's performance, Morin added. ($1 = 0.9930 euros)Reporting by Diana Mandia and Dina Kartit; Editing by David Holmes, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Europe's top hotel chain is hiring workers without experience or even résumés because it's so desperate for staff
▼ + stars: | 2022-07-05 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

The CEO of Accor, Europe's top hotel chain, said he's hiring workers without experience or résumés. Sebastien Bazin said some Accor hotels were limiting restaurant hours because of staff shortages. Hospitality workers have been quitting their jobs over wages, benefits, and working conditions. It means some hotels have been forced to widen their candidate pools — with Accor, Europe's largest hotel chain, turning to workers without experience or even résumés. Some days, Accor hotels have been forced to stop serving lunch or even completely close their restaurants because they don't have enough staff, Bazin said.

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