Accor CEO urges hotel owners to “raise their prices frankly” – bastcarsbrands

Accor CEO urges hotel owners to “raise their prices frankly” – bastcarsbrands

Accor’s CEO called on the hoteliers who manage the group’s establishments to “frankly raise their prices“, for “regain financial capacity” after two years of health crisis, and to adapt to “highly inflationary operating costslinked to rising wages and energy prices. Presenting Friday “highlights in 2021during the group’s general shareholders’ meeting, Sébastien Bazin mentioned “the desire to travel (which) is only accelerating” and “the pricesof the services provided by its hotels – Accor has some 5,300 around the world – whichare higher than 2019“. “We encourage our owners to frankly raise their prices, firstly because they have suffered just as much as us, many of them have cash flow difficulties“, affirmed the CEO of the sixth hotel group in the world (Novotel, Sofitel, Mercure, Ibis, Fairmont, Mövenpick, Raffles, Jo and Joe…). The second reason is because the operating costs of a hotel are very inflationary, due to the increase in wages and energy prices, he added. SEE ALSO – In the United States, the Fed makes the largest rate hike since 2000 to counter inflation Consequently, “the only way for hotel owners to keep margins equivalent to those of 2019 is to (…) pay more”said Sebastien Bazin, saying he hopes that hotel prices will continue to increase in 2023. A wage agreement between the social partners has established since April 1 a minimum wage 5% higher than the Smic and an average increase of 16.33% of the salary grid, in a branch of hotel-café-restaurants (HCR) with historically low salaries. Friday the shareholders of Accor renewed for three years the mandates of four directors, including that of the former President of the Republic Nicolas Sarkozy with 95.48% of the votes cast. On the other hand, the compensation of CEO Sébastien Bazin for the year 2021, where Accor generated a net profit of 85 million euros after having suffered in 2020 a historic loss of nearly two billion euros due to the coronavirus pandemic. Covid-19, was approved with only 79.26%. It includes a fixed compensation of 950,000 euros, to which are added a variable compensation of 1.42 million euros and 79,034 performance shares with a value of 2.37 million euros – the acquisition of which is subject to achievement of several performance criteria. After a failed Game 1, Dallas had every intention of catching up with Game 2. The Mavericks believed in it… Luka Doncic scored 42 points. The Mavs finished the game with 47% 3-point success…and it wasn’t enough! Dallas played like… While all of the individual trophies have already been awarded to the lucky winners, the NBA continues to distribute the… In this photo provided by NASA, Boeing’s Starliner capsule prepares to dock with the International Space Station, May 20, 2022…. This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.
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