From shareholder to CEO

Paris/Bad Arolsen. Accor announced a positive net result for the first half-year 2013 in spite of slightly declining numbers; Hospitality Alliance also increased its revenues. Both groups are focussing on improved distribution concepts and not in the least, are also looking at the future positively due to the good summer months.

Munich. The recent dismissal of Accor CEO Denis Hennequin changes nothing in the existing strategy of the group, it is said. At most, the tempo is too slow for both primary shareholders, Colony Capital and Eurazeo. The fact that their wishes count has also been experienced with the fact that enforcement by Asset Light regarding the most recent CEO sacking was repeated several times and almost aggressively. What does it mean for Accor in Germany, the second largest hotel market for the French? How quickly can Accor's contractual relationships be changed in a country that likes neither management nor franchise? Michael Muecke, Managing Director and General Manager Economy Brands with Accor Germany, regarding the current status of Asset Light in Germany.

Paris. Electrical was the ambiance yesterday at Accor’s general shareholders meeting held in a Novotel in Paris. 300 employees were demonstrating against the major shareholders. And in Toronto, it looks like the position of CEO Kathleen Taylor will be filled too. This could be the start of a new CEO era.