The unprecedented crisis that shakes the global hotel industry continues to worry professionals. The Covid-19 is still lurking, which risks slowing the rebound after the sudden stop to travel. The most responsive of the giants of the sector are looking for the best solution to emerge stronger from the crisis. According to our information, Accor has thus studied a merger project with its rival IHG. Sébastien Bazin, its CEO, created a team dedicated to this project in early June, with its financial director, Jean-Jacques Morin, and the investment banks Centerview and Rothschild. On Wednesday, the group declined to comment.
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A marriage would create the world leader in the hotel industry, ahead of Marriott. A strike force to attract customers and hotel owners looking for franchise and management contracts. Owner of the Intercontinental, Crowne Plaza and Holiday Inn brands, IHG operates 5,918 hotels (883,364 rooms) around the world, mostly in the United States. Its turnover was $ 4.6 billion (3.87 billion euros) in 2019, and it is valued at 7.3 billion pounds (7.8 billion euros) on the London Stock Exchange. Leader outside China and the United States, valued at 6 billion euros, Accor (Raffles, Sofitel, Novotel, Mercure, Ibis, etc.) operates 5,099 hotels (747,805 rooms), but very few in the United States. Its turnover was 4 billion euros in 2019.
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In addition to geographic complementarity, a merger would create significant synergies in central functions, reservation systems and the loyalty program. On August 4, Accor announced € 200 million in savings. This plan would have been higher with an alliance with IHG. The Board of Directors of Accor, which has examined the principle of a merger on several occasions, is in favor. But Sébastien Bazin considers it more prudent not to do anything for the moment. No contact was therefore made with Patrick Cescau, the French chairman of the IHG board of directors. But the file could evolve in the coming months.
