Restructuration in hotel industry...
Since few years, we can assist to many changement inside the hotel industry, pension funds are becoming shareholder of many hotel group, Colony Capital for Accor, Starwood for Le Meridien...
We assist today at the restructuration of the Acor Company, in fact they realize since a while that it was not a good idea to develop the Sofitel brand anymore. This brand was not really relevant for the company, in term of turn over but also of image.
They started Sofitel as business hotel on motorroad and around big cities... But since few years they have decided to develop it as luxurious 4 stars hotels in the main capital around the world.
The problem now is that they invested a lot of money in order to develop this brand but people are not ready to spend enough money for this name because the product doesn't fit its image.
So, they have decided to sell all the Sofitel to get some funds in order to invest in other brand in new countries like China, South America...
My opinion is that it's good to try to develop in every segment in order to reach a maximum of guests but in many case it's becoming difficult to keep good benefits.
The arrival of pension funds can be a good thing to permit a really efficiency and effectiveness in hotel industry.
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