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Accor buys the Lido from Sodexo

2021-12-03T19:51:24.949Z

Sodexo, which had bought it in 2006, has just sold the famous Parisian cabaret to the hotel giant, after several weeks of negotiations.



The Lido, the famous Parisian cabaret on the Champs-Élysées, changes hands.

Sodexo, which bought it in 2006, has just sold it to the hotel giant Accor, after several weeks of negotiations.

A spokesperson for the collective catering group confirmed that an agreement had been reached and that a communication would be made to

"employee representative bodies at the beginning of next week"

.

The disposal project should be completed in early 2022.

Read also

Accor prepares purchases outside the hotel industry

In search of a new CEO - Denis Machuel was dismissed at the end of September - Sodexo has undertaken to manage its many assets more actively.

The Lido was part of its portfolio of activities dedicated to sports, leisure and events (Lenôtre, Bateaux Parisiens, Batobus, Yachts de Paris, etc.).

By parting with it, the company is drawing an end to an investment that has been losing money for several years.

Despite a dream location, the Lido indeed suffers from an aged image, while the Moulin Rouge has regained its youth thanks to the film by Baz Luhrmann in 2001, with Nicole Kidman and Ewan McGregor.

Accor sees the Lido as an opportunity to expand its leisure offer, both for foreign tourists and Parisians

The Covid-19 pandemic has thrown the cabaret into an unprecedented crisis, the end of which it still does not see.

Despite this difficult context, Accor sees the Lido as an opportunity to expand its leisure offer, both for foreign tourists and Parisians.

Cabaret shows will be added to events dedicated to members of the All (Accor Live Limitless) loyalty program.

For its loyal customers, the hotelier already offers exclusive offers at the Accor Arena and the Parc des Princes.

See also

Back to green for the Accor hotel group in the first half of the year

After renovation work which should start in the middle of next year, the Lido review will resume.

The show will be revisited, but it will keep a cabaret spirit.

This acquisition confirms the strategy of Sébastien Bazin, CEO of Accor, of offering more than hotel rooms to its customers.

The group has already taken control of Paris Society (restaurants) and the caterer Potel et Chabot, as well as a stake in Ken Group (sports halls).

Source: lefigaro

All business articles on 2021-12-03

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