Shantou China Accor Hotel
Two years ago, everyone in the Western world thought TripAdvior would continue to grow as the best hotel recommendation site.
Only 15 months have passed and TripAdvisor's stock market value has risen from $12 billion to $450 million. After winning the operating rights to a number of Accor brands, China Lodging's market capitalisation is now $9.5 billion, compared to $1.2 billion when Accors became a shareholder three years ago. The combined brand portfolio is unrivalled in China and offers a unique combination of high-quality, high-quality hotels with a high level of service.
Accor Hotels is at the forefront of reinventing its concepts to meet the needs of business and leisure customers around the world.
We saw the same thing and did not know how disruptive this new model would be to our own model. Every three or four years, a trend brand has a red line, and in years seven or ten, someone is trendier than them and they suffer. In the year seven to ten, someone must be "trendier" because they have suffered.
You cannot predict what will happen tomorrow, you just have to open your eyes and show respect to the unknowns who are safe. We have a solid foundation, we have muscle and we have had hundreds of millions of capacities that we have invested in our own volume system and in brand acquisition. If they have the time, they will probably stay alive, but if they do not, they will not stay alive for long.
We have signed over 2,000 independent hotels in just nine months, and only because it would have been absolutely foolish and too late. We could have created a full-service OTA, but we really didn't think it could exist outside of Google, Baidu and the big boys. It was impossible to compete with them because we had to behave ourselves and stop, because no one knew what we were going to have.
If you want to make it known, it costs you 200-300 million dollars a year, so we decided it was worth investing those 200-300 million dollars to brand it as an Accor network.
This groundbreaking alliance will combine the strength of Accor's global brand and network with the expertise of the world's largest hotel chain and global hospitality industry. By combining our strengths as partners, we aim to create a world-class hotel brand with a strong presence in China, the Middle East, Asia and Europe.
The MEB portfolio will expand the reach of China Lodging Group and further strengthen its position as the global market leader in the mid-sized hotel segment. Huazhu has become the undisputed leader in this mid-range segment, "comments Guillaume D'Ambrosio, President and CEO of Accor Hotels Group.
The participation in the LUB portfolio will further expand the business of the China Lodging Group into the upscale luxury segment and further strengthen its position as the leading hotel chain in China. In addition to the development of the MEB portfolio, China Lodges Group will support the development of the Lub portfolio by acquiring a number of other luxury hotels in Shanghai and Beijing.
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The lesson is that OTAs are very good at occupying space, but we don't have the size, we don't always have to have time, and we're likely to lose. In the next 5-10 years, some of the largest hospitality providers will take over and some will become franchisees of large hospitality groups. So if you are not listening and paying attention, you will not exist in two or five years' time when we have created a niche brand.