The Peace Hotel, a historic landmark and iconic symbol of Shanghai, has operated under Accor's Fairmont brand since 2010. It will be transformed to a global flagship of Raffles, Accor's high-end luxury brand. This is just one of Accor's accelerating expansion moves in China.
Sébastien Bazin Chairman & CEO, Accor "It's exquisite, refined, elegant. It's probably one of the best examples of what we call a trusting relationship."
This is Sébastien Bazin, the Accor's global CEO coming for China this week. It was here in this landmark that he unveiled further China expansion plans and sealed new partnerships.
Sébastien Bazin Chairman & CEO, Accor "Yes, we've been signing different hotel projects from Pullman to MGallery to Sofitel to Fairmont...And it's only the beginning, it's we have 17 brands in China today, but Accor we have 45 brands globally. That means there are another 30 brands that I get to 28. That I guess we can be working together and I want to go deeper in north China, east China, west China. You're gonna see Accor doubling the pace in China over the next 5 to 6 years. We're very committed to your country. Doubling means going from 800 hotel to 1,600, going probably to 250,000 rooms. We already have 45,000 people working in China, so means probably going to 90,000 people. It's a big commitment. It's a China is on top three countries for our core in the world and it's a country in which you will be my dear the largest global hospitality market in the world. China will be probably in 5 to 7 years from today. You're going fast. So power AI, anything you do with social network, with the agenda AI, you are ahead of the game when it comes to travel hospitality. I'm also learning when I come here, I'm being inspired."
What new growth opportunities is Accor seizing in China now?
Sébastien Bazin Chairman & CEO, Accor "You are in a complex kind of actually environment here because I need to understand the the new people underneath 35 years old in China. They don't want the same thing as 300 million Chinese above 60 years old. Those are two different expectations. So I need to cater for each generation, male, female and I've heard something when I was preparing with you. I did not understand enough the importance of pets. A lot of Chinese today want to travel with the animal. Emotional consumption, the experience is a big part of it. Hospitality today encompasses everything and everything I love in all those different vertical before never talk to one another. Now music is gonna be talking to hotel, then cinema will talk to the hotel, then gastronomy will talk to the hotel. So I'm fascinated by the evolution of the Chinese demand."
So, what's next for Accor in China?
Sébastien Bazin Chairman & CEO, Accor "Future plan in China is to double, triple the amount of people we have in China to get the team, the right resource, the right autonomy. So we will have probably in 10 years, 7,000 hotel and probably almost 2,000 in China. So you are the biggest piece of my development, probably the greatest potential. And so that dedication comes with additional resources, additional commitment, and probably more sophisticated, more audacious vision. My vision for your country is very large. You have everything it can be dreaming of. So I just want people to discover and understand what you have to offer. And many countries cannot match with China."
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