Accor hotel group is in bad shape after the pandemic year

The major French hotel group Accor, known from chains such as Ibis, Sofitel, Novotel and Mercure, was hit hard last year by the coronavirus outbreak and the pandemic’s malaise in the travel and tourism sector. As a result, Accor’s hotels, which also has dozens of offices in the Netherlands, had fewer visitors.

The company saw revenue plummet by about 60 percent to over 1.6 billion euros in 2020, while a net loss of 2 billion euros was incurred. Accor, for example, had to write off the value of assets.

Accor CEO Sébastien Bazin therefore speaks of an” unprecedented crisis ” for the hotel sector by corona and the lockdowns. To save costs, Accor is cutting a thousand jobs. Accor hopes that this year will get better, helped by vaccinations against the coronavirus. Accor has 5139 hotels worldwide.