Accor S.A. (Societe Anonyme) is a French hotel group that is part of the CAC 40 index. It operates in 92 countries, with about 3,500 hotels in five continents that represent various diverse brands. Their hotels vary between budget and economy lodgings and luxurious accommodations in exotic locations.
Accor was founded in 1967. During the decade when it was established, the travel industry in France was booming. However, new hotels were concentrated in major urban areas such as Paris. Paul Dubrule and Gerard Pelisson, who were both living in the United States and working for huge computer firms back then, went into business together and decided to establish a hotel group. SIEH (Société d'investissement et d'exploitation hôteliers) was developed in 1967. As they saw the success of American lodging properties along primary highways and in suburban areas, the two partners launched their first American-style Novotel hotel just outside of Lille in Northern France. In 1974, they also launched the ibis brand as they opened the ibis Bordeaux.
In the next year, the hotel group acquired the Courtepaille and Mercure brands and in 1980, the Sofitel hotel brand, which consisted of 43 hotels back then. After two years, they bought out Jacques Borel International which was the world-leading brand offering restaurant vouchers at that time. The group acquired its current name, Accor, in 1983 and they continued to offer restaurant tickets and hotels.
In 1984, Accor’s founders were elected as Managers of the Year by the Le Nouvel Economiste magazine. Meanwhile, in 2010, Accor sold 48 hotels for the hefty amount of 367 million euros which is about $465 million. The sell out was part of their plan to liquidate some real estate holdings including seven properties in Germany, 10 in Belgium, and 31 in France. The sale occurred within the next three years and the company’s debt was cut by about 282 million euros.
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