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Sign in Sign up for a FREE subscriptionHotel group Accor launches €200m saving plan
Accor has launched a €200 million ($238 million) recurring-cost saving plan.
The plan includes:
Simplification and realignment of operating structures in different regions; Automation of tasks for repetitive processes.On an annualized basis, two-thirds of these cost savings will be generated by the end of 2021 and 100 percent, by the end of 2022.
“The shock that our industry is experiencing is both violent and unprecedented. Against this backdrop, we have managed to limit the impact of the crisis: on our performance by taking immediate steps to protect our resources and, thanks to the Group recent years transformation and our sound financial structure; on our employees by implementing concrete and immediate support measures,” said Sébastien Bazin, chairman and CEO of Accor. “The peak of the crisis is undoubtedly behind us, but the recovery will be gradual. Having taken these emergency steps, we must now finish the job from
