(AOF) – On the recommendation of the Appointments, Compensation and CSR Committee, the Board of Directors of Accor, meeting on February 23, 2022, decided to propose the renewal of the terms of office of Ms. Qionger Jiang and Isabelle Simon as well as of Mr. Nicolas Sarkozy and Sarmad Zok as directors of the Company for a period of three years.
The Board also decided to propose, in addition to the appointment of Mrs. Hélène Auriol Potier, which had already been announced, the appointments of Mrs. Asma Abdulrahman Al-Khulaifi and Mr. Ugo Arzani as directors, also for a period of three years.
The appointments of Mrs. Asma Abdulrahman Al-Khulaifi and Mr. Ugo Arzani are proposed to succeed Messrs. Sheikh Nawaf Bin Jassim Bin Jabor Al-Thani and Aziz Aluthman Fakhroo, the terms of the latter expiring at the end of the General Meeting called to approve the financial statements for the year ended December 31, 2021. These appointments are made under the governance agreements providing for the appointment of two directors by Qatar Investment Authority.
The corresponding draft resolutions will be placed on the agenda of the next General Meeting, convened on May 20, 2022.
If the General Meeting approves these proposals, the Board of Directors will remain composed of 60% of independent directors and the proportion of women will be increased from 40% to 50%, if the two directors representing the employees are excluded from the calculations. .
AOF – LEARN MORE
Hospitality & Leisure: new expectations from travelers
The sector suffered a 74% drop in tourist arrivals worldwide in 2020 according to the World Tourism Organization (UNWTO). At 500 million, these arrivals have fallen to their level of the early 1990s.
Globally, the sector lost 1.3 trillion dollars last year following the Covid-19 pandemic. A return to normal is expected for 2023, particularly under the effect of vaccination, with changing requirements.
Continued growth for major global hoteliers
In 2020, the hotel park of the major operators has progressed according to the firm MKG, with the exception of that of the Indian Oyo and the American Wyndham. The 54.3% contraction in its customer base pushes Oyo from second to ninth place, due to its decline in China (-75%). On the other hand, the three major Chinese groups (Jin Jiang, Huazhu, and BTH), which are among the top ten global operators, have continued to expand. Their domestic market, in the recovery phase from 2020, shows considerable needs.
Jin Jiang, which notably owns the French Louvre Hotels Group, has regained its place as number two in the world. As for the world leader, the American Marriott International, the growth of its park exceeded 3%, as well as for Accor, and it almost reached 5% for Hilton.
This expansion can be explained by the economic model of the major operators and by the appetite of investors, who are confident in the sector’s medium and long-term prospects.
Emergence of a new tourism
Local tourism, which has suffered the least from the health crisis, should emerge strengthened. On the other hand, business travel should continue to be penalized in the short term for health reasons and because of the reductions in company costs authorized by new tools (Teams, Zoom, etc.).
Travelers’ expectations have evolved. They are more sensitive to flexibility (possibilities of cancellation, flexible departure dates, etc.). Several tour operators believe that prices should increase to take into account the
and
s ecological costs and a rebalancing of wages. They believe that operators offering a differentiating experience should be the big winners from this crisis.