Major Hotel CEO: Big Brands Must Share Resources to Save Mom ’n’ Pops
Hotels are hurting badly. But without the establishments that make cities exciting—even when they’re direct competition—there won’t be a tourism industry to rebuild.
The renowned Raffles Hotel, operated by Accor SA, in Singapore.
Photographer: Wei Leng Tay/BloombergIn a panel discussion during the travel industry Skift Global Forum 2020 on Tuesday, Sept. 23, Sebastien Bazin, chief executive officer of French hotel group Accor SA, painted the most honest portrait of what it looks like to be an hotelier today.
“It’s time to pivot,” he said of his time-tested hospitality business model. Among his strategies: offering rooms by the day for locals who can “work for anywhere” within biking distance; “replacing business travel” by “catering to locals”; and doubling down on the 12 economy and mid-scale brands that represent 90% of the company’s profits, despite the fact that they may not be the company’s crown jewels.