1 2009 ANNUAL REPORT 2009: A YEAR OF CRISIS AND FORCEFUL RESPONSE 2010: NEW AMBITIONS FOR HOTELS SERVICES
2 CONTENTS 01 MESSAGE FROM THE CHAIRMAN AND CHIEF EXECUTIVE OFFICER 05 INTERVIEW WITH THE VICE-CHAIRMAN OF THE BOARD OF DIRECTORS 06 GOVERNANCE STRUCTURES 08 BOARD OF DIRECTORS 10 EXECUTIVE COMMITTEE AT DECEMBER 31, KEY FIGURES 2009, CRISIS, RESPONSE AND OUTLOOK 16 BEST OF RESPONDING PROACTIVELY TO AN EVER-CHANGING WORLD 20 ACCOR IS PURSUING ITS TRANSFORMATION 22 ADJUSTING TO THE CURRENT ECONOMIC ENVIRONMENT DEVELOPING TO PREPARE FOR THE FUTURE 26 EXPANSION: ACCOR HOLDS UP WELL 28 DEVELOPING THROUGH THE ASSET-RIGHT STRATEGY 30 ACCOR SERVICES: STRONG GROWTH MOMENTUM 32 ACCOR SERVICES FLAGSHIP PRODUCTS INNOVATIVE SOLUTIONS TO BOOST SALES 36 ACCOR SERVICES: COMPETITIVENESS AND A TECHNOLOGICAL SHIFT 40 DELIGHTING CUSTOMERS 42 AN EFFECTIVE ONLINE SALES STRATEGY 44 RESPONSIVENESS ON THE FRONTLINE 46 HOTEL BRAND PORTFOLIO COMMITTED TO MEETING EMPLOYEE NEEDS 58 GUARANTEEING THE BASICS TO PROTECT AND SHARE THE ESSENTIALS 60 MANAGING CHANGE IN THE ORGANIZATION SUSTAINABLE DEVELOPMENT 67 SUPPORTING HUMAN WELL-BEING 70 PRESERVING THE ENVIRONMENT 73 THE ACCOR CORPORATE FOUNDATION 74 ACCOR: 42 YEARS OF GROWTH 2010, NEW AMBITIONS FOR HOTELS AND SERVICES 82 INTERVIEW WITH GILLES PÉLISSON 86 HOTELS EXECUTIVE COMMITTEE 88 INTERVIEW WITH JACQUES STERN 92 SERVICES EXECUTIVE COMMITTEE 94 APPENDIX: 2009 PERFORMANCE INDICATORS 118 CORPORATE DIRECTORY
3 2009 ANNUAL REPORT 1 THE YEAR OF THE GLOBAL FINANCIAL AND ECONOMIC CRISIS, 2009 WAS ALSO A PERIOD OF EXTEN- SIVE TRANSFORMATION FOR ACCOR. THANKS TO OUR PROACTIVE STRATEGY, DISCIPLINE AND CREATIVITY, WE HELD UP WELL AND STAYED ON COURSE WILL BE THE YEAR OF A NEW ADVENTURE FOR ACCOR. MESSAGE FROM GILLES PÉLISSON CHAIRMAN AND CHIEF EXECUTIVE OFFICER After two years of very solid results, Accor was adversely affected by the consequences of the severe global financial crisis. The Hotels business was especially hard hit, as in each economic cycle, while the Services business was impacted by both higher unemployment and the effects of the economic slowdown on its private and public-sector customers. Our revenue declined by 7.9% like-for-like to 7,065 million. EBITDAR margin held up well, contracting by just 1.5 points like-for-like, and represented 28% of revenue. Operating profit before tax and non-recurring items was down 38% at 448 million, although at the upper end of the target we announced in the middle of the year. The Hotels business felt the full brunt of the market contraction, which was due to in large part to highly restrictive employee travel budgets introduced by both small and large companies. While revenue was down 10.1% like-for-like, margin
4 2 ACCOR MESSAGE FROM GILLES PÉLISSON declined by just 2.6 points like-for-like thanks to cost-reduction plans, which surpassed their initial objectives, with operating costs reduced by 165 million and support function costs by 87 million. Overall, the hotel response ratio was 40%, five points more than the target. Economy hotels (excluding the US) held up best, especially in France. The Services business once again demonstrated the solidity of its business model, generating 3.9% like-for-like growth in operating revenue, even though its host countries saw a decline in gross domestic product. Although hurt by higher employment, which reduced the number of users, and by lower interest rates, which weighed on interest income, the business saw a margin decline of just 0.3 points like-for-like. In 2009, we reinforced the plan through a combination of cost-reduction, reorganization and assertive marketing and sales programs. ENHANCED RESPONSIVENESS ACROSS THE ORGANIZATION Looking back, this performance nonetheless demonstrates Accor s superior resilience, thanks to the validity of the strategy introduced several years ago and the battle plan launched in 2008 in response to an increasingly difficult business environment. In 2009, we reinforced the plan through a combination of cost-reduction, reorganization and assertive marketing and sales programs. Marketing initiatives involved both businesses, at all levels and throughout the year. Leveraging its increasingly high-performance distribution platforms, the Hotels business deployed a forceful, innovative sales strategy to defend our market share around the world. These included major online promotions like Super Sales in Asia and Happy Nights in Europe. Our greater focus on winning customers was also reflected in the success of our A Club loyalty program, which has more than 3.5 million members just 18 months after its rollout. Thanks to the A Club program, we have entered a new era of customer relationship management with more tightly targeted offers. Our Guest Satisfaction Survey is another example of this commitment to better understanding our customers and more effectively meeting their needs. We also introduced new Web-based tools with the goal of winning new customer segments, such as small and mid-sized businesses, and strengthening our relations with online distributors and other key partners. The Services business once again demonstrated the full extent of its creativity and marketing vitality in its two main markets Europe and Latin America. In Europe, the business can rely on PrePay Solutions, a joint venture created in early 2009 in partnership with MasterCard Europe. New products are still a key driver of business growth, as evidenced by the successful launch of the Ticket EcoCheque voucher in Belgium. In Latin America, the Services business strengthened its leadership in the expense management sector, winning a contract with the oil company Petrobras in Chile.
5 2009 ANNUAL REPORT 3 The Group s responsiveness was also apparent through its ability to make necessary adjustments in the organization. Changes were made in the corporate governance organization so that management could reach decisions and take action more quickly. The positions of Chairman and Chief Executive Officer were combined and membership on the Board of Directors was reduced. PURSUING OUR TRANSFORMATION While recent economic developments have required greater agility and extreme vigilance, they have not called into question our strategy. On the contrary, we are pursuing the same strategic path, as confirmed by: our continued refocusing on the two core businesses Hotels and Services with the sale of the Group s stake in Club Méditerranée; our asset-right real estate strategy, with the disposal of 157 hotelf1 properties in France and the divestment, announced in early 2010, of five hotel properties in Europe, for a total of 154 million; assertive expansion in the Hotels business, with the opening of 27,300 rooms, of which 80% in the economy and midscale segments and 81% involving less capital-intensive operating structures; ongoing marketing innovations in Services with the creation of new products and the gradual shift from paper to electronic media; a still solid financial situation and cash position, as evidenced by the successful placement of a 600-million bond issue and 2.5 billion in unused, confirmed lines of credit. TRANSFORMING THE COMPANY WHILE RESPECTING PEOPLE A year of crisis and transformation, 2009 was an especially intense period for Accor teams, requiring them to work differently with fewer means at their disposal. Given the circumstances, we relied in particular on our fundamentals. I am thinking first and foremost of our core values, powerful commitments and reaffirmed management ethic, which was redeployed throughout the Group in I would again like to thank all of our team members and salute them for the dedication, tenacity and team spirit they displayed month after month while awaiting the first signs of a recovery, which appeared late in the year. We also supported employees by introducing new tools to enhance their skills and facilitate internal mobility and by launching projects for the hotel brands at Novotel, for example to increase employee career opportunities. We pursued our social and environmental commitment through measures that focus on the eight priorities in the Earth Guest program, as well as through other initiatives like the Services business FOOD program and hotel certification projects. We pursued our social and environmental commitment. We continued to lead the fight against AIDS, malaria and sexual tourism involving children. We remained firmly focused on preserving our planet s natural resources, through our plan to reduce water and energy consumption and our support for the Plant for the Planet reforestation program was also the first full year of operations for our Foundation, which has provided support for over 2,000 employees involved in 33 community development projects in 19 countries. THE BEGINNING OF A NEW ADVENTURE Our two businesses have considerably accelerated the transformation processes initiated several years ago. In Hotels, the focus has gradually shifted to hotel management with the integration of new techniques that change the way we go about our business. These include a broader array of increasingly sophisticated distribution methods as well as revenue management practices to adjust room supply to demand. As a result, the brands are more than ever at the heart of our business model, requiring us to innovate constantly to maintain their appeal and create differentiation in today s highly competitive market. The Services business has undergone deep-seated change through the dual impact of marketing innovations and the technological shift toward paperless media. As a result, the portfolio is ever more diversified and comprised of increasingly personalized products. For all of these reasons, we felt the time had come to launch two new adventures to ensure the growth of our two core businesses, which no longer need to be part of the same corporate structure. In the summer of 2009, we launched an in-house study to assess the benefits of demerging the two businesses, which the Board of Directors approved in December 2009.
6 4 ACCOR MESSAGE FROM GILLES PÉLISSON Many employees have been involved in these efforts, which have been carried out in a collegial manner with the full participation of the Executive Committee. I would like to extend to all team members my sincerest thanks for their whole-hearted involvement and unwavering commitment. In mid-december, I asked the Board of Directors to appoint Jacques Stern, Deputy Chief Executive Officer in charge of Accor Services, in recognition of his nearly 20 years of devoted service to the Group. His assignment was to put together a management team and prepare for the new company s stock market listing. In February, the Services and Hotels businesses created their respective Executive Committees so that they would be poised for immediate action. At the same time, each unit began preparing its own corporate project to establish the foundations for future growth and define how objectives would be attained. The proposed demerger will be submitted to shareholders for approval at an Extraordinary Meeting on June 29, This will mark the beginning of a new adventure for both businesses. Easier to understand, they will enjoy higher market values and be more attractive to investors and our partners. With separate roadmaps and no capital ties between them, the businesses will accelerate their respective transformations and enhance their performance. We will deploy the same energy and determination as in the past to develop Hotels and Services into two global leaders. We will deploy the same energy and determination as in the past to develop Hotels and Services into two global leaders. As Accor prepares to add a new page to its history, I would like to thank you all for your confidence. (See also the interviews with Gilles Pélisson and Jacques Stern on pages 82 and 88, in which they discuss the new ambitions of the Hotels and Services businesses.)
7 2009 ANNUAL REPORT 5 INTERVIEW WITH PHILIPPE CITERNE VICE-CHAIRMAN OF THE BOARD OF DIRECTORS A MEMBER OF THE ACCOR BOARD OF DIRECTORS SINCE 2006 AND CHAIRMAN OF THE AUDIT AND RISKS COMMITTEE, PHILIPPE CITERNE, WHO WAS FORMERLY CHIEF OPERATING OFFICER OF SOCIÉTÉ GÉNÉRALE, HAS SERVED AS VICE-CHAIRMAN OF THE BOARD SINCE FEBRUARY HE REVIEWS HIS ROLE AND THAT OF THE BOARD OF DIRECTORS IN THE GROUP S CORPORATE GOVERNANCE SYSTEM. Why set up the position of Vice-Chairman of the Board of Directors? Philippe CITERNE: The Vice-Chairmanship was created when the positions of Chairman and Chief Executive Officer were combined and entrusted to Gilles Pélisson to enhance the Group s responsiveness and efficiency in times of economic crisis. Creating the position of Vice-Chairman is a way of responding to a unitary executive with a unified representative, of demonstrating and ensuring that the interests of all shareholders especially minority shareholders will be taken into consideration. How do you see your role as Vice Chairman? Philippe CITERNE: I have a dual responsibility. First, I am in a way the leader of the six independent directors, who ensure the Board s neutrality vis-à-vis the Group s executive bodies and ensure that the interests of all shareholders are taken into account. An independent director cannot, for example, be a major Accor supplier, a former Accor executive or other employee or represent a shareholder with a more than 10% stake in the company. Second, I see myself as the contact person for shareholders who want to speak to a member of the Board who is not part of the executive management team. One of the Board of Directors most important projects in 2009 was the proposed demerger of the Hotels and Services businesses. What role did the independent directors play in this process? Philippe CITERNE: Like the other Board members, the independent directors were involved at every stage of the project. In the initial phase, I was one of two independent directors to serve on a Liaison Committee that was created specifically to study the benefits of the demerger. During this period of deliberation, from August to December 2009, the independent directors also met twice so that we could discuss the project freely among ourselves. The independent directors informed the Board of Directors that they would choose an independent bank to guide them and help them validate the study presented by management and its advisory banks. The Board not only appro ved this request but also decided the designated bank would advise the entire Board while allowing the independent directors to choose the bank themselves. After the favorable vote on the benefits of demerging the businesses on December 15, 2009, an Oversight Committee was set I see myself as the contact person for shareholders who want to speak to a member of the Board who is not part of the executive management team. up to replace the Liaison Committee to monitor progress in the preparatory phases and explore the project s key success factors. I am one of two independent directors on the committee, which will see the project through to completion. What do you see as the Board s role in this new chapter in the Group s history? Philippe CITERNE: The Board of Directors has been at the heart of the project, not only initiating it but also accompanying it every step of the way since the summer of Consequently, we needed to hold more full-member meetings than usual in order to analyze and approve the work carried out by the different committees. Lastly, it was the Board that on February 23, 2010 defined the process for bringing about this strategic transformation of the company. So as you can see, it has been an intense period during which we have worked closely with the executive management team for the benefit of all shareholders.
8 6 ACCOR GOVERNANCE GOVERNANCE STRUCTURES THE COMPANY IS GOVERNED BY A BOARD OF DIRECTORS, WHICH DETERMINES THE COMPANY S STRATEGY, OVERSEES ITS IMPLEMENTATION, EXAMINES ANY AND ALL ISSUES CONCERNING THE EFFICIENT RUNNING OF THE BUSINESS, AND MAKES DECISIONS ON ALL MATTERS CONCERNING THE COMPANY. In accordance with the law and the Company s Bylaws, the Chairman and Chief Executive Officer chairs Board meetings, organizes and leads the work of the Board and its meetings, ensures that the Company s corporate governance structures function effectively, and obtains assurance that directors are in a position to fulfill their responsibilities. The Chairman and Chief Executive Officer represents the Company in its dealings with third parties and has the broadest powers to act on behalf of the Company in all circumstances. The situations where the exercise of the Chairman and Chief Executive Officer s powers is subject to the prior approval of the Board of Directors are detailed in the report of the Chairman and Chief Executive Officer drawn up pursuant to article L of the French Commercial Code. The Bylaws stipulate that each Board member is required to hold at least 500 Accor shares. To promote high attendance rates at Board meetings, 50% of the total fees awarded to members of the Board of Directors are allocated based on their attendance record. Accor complies with the December 2008 version of the AFEP-MEDEF Corporate Governance Code for listed companies. At its meeting on May 13, 2009, the Board of Directors assessed the independence of its members. For the purpose of this assessment the Board applied the criteria set out in the above mentioned AFEP-MEDEF Corporate Governance Code which state that a member of the Board of Directors of a corporation cannot be qualified as independent if he or she: is or has been at any time in the last five years an employee or a corporate officer of the corporation, or an employee or director of its parent or a company that it consolidates; is a corporate officer in a company in which the corporation directly or indirectly holds a directorship, or in which an employee appointed as such or a corporate officer of the corporation (current or in the past five years) holds a directorship; is a customer, supplier, investment banker or commercial banker (i) that is material for the corporation or its group, or (ii) for which the corporation or its group represents a material proportion of the entity s activity; has close family ties to a corporate officer; has been an auditor of the corporation in the last five years; has been a director of the corporation for more than twelve years.
9 2009 ANNUAL REPORT 7 The Afep-Medef Corporate Governance Code also states that directors who represent major shareholders of a corporation or its parent may be considered as independent provided that they do not participate in the control of the corporation. If a shareholder owns 10% or more of the corporation s capital or voting rights, the Board of Directors should systematically review whether that shareholder may be qualified as independent based on a report issued by the Appointments Committee and taking into account the corporation s capital structure and any potential conflicts of interest. Based on these criteria, and on disclosures by the persons concerned, the Board considers six of the current twelve directors to be independent: Jean-Paul Bailly, Philippe Citerne, Gabriele Galateri di Genola, Denis Hennequin, Bertrand Méheut and Franck Riboud. In accordance with the Company and Directors By-laws, Paul Dubrule and Gérard Pélisson, Founding Co-Chairmen, attend Board Meetings in a consultative capacity, and may be invited to attend meetings of the Board Committees. In compliance with corporate governance principles, the Board of Directors is assisted in preparing its decisions by the following three Board Committees, whose membership structure was approved at the May 13, 2009 Board meeting: The Audit and Risks Committee, comprising five members, including three independent members: Philippe Citerne, who is Committee Chairman, Virginie Morgon, Jean-Paul Bailly, Denis Hennequin and Alain Quinet. The Commitments Committee, comprising five members, including three independent members: Sébastien Bazin, who is Committee Chairman, Philippe Citerne, Gabriele Galateri di Genola, Denis Hennequin and Patrick Sayer. The Compensation, Appointments and Corporate Governance Committee, comprising five members, including three independent members: Bertrand Méheut, who is Committee Chairman, Jean-Paul Bailly, Thomas Barrack, Franck Riboud and Patrick Sayer. The organizational and operational framework applicable to the Board of Directors and the Board Committees is described in the Directors bylaws (1). In addition, members of the Board adhere to the Directors Code of Conduct (1), which defines the scope of the directors duty of diligence, discretion and confidentiality, and sets out the rules applicable to trading in the Company s securities. Lastly, with a view to preventing any potential conflict of interests, members of the Board are required to complete a statement every year disclosing any and all direct or indirect ties they have with the Company. The procedures for organizing and preparing the work of the Board during 2009 are described in the report of the Chairman and Chief Executive Officer drawn up pursuant to article L of the French Commercial Code. (1) See 2009 Registration Document.
10 8 ACCOR GOVERNANCE BOARD OF DIRECTORS AT DECEMBER 31, 2009 Under the bylaws, as Founding Co-Chairmen of Accor, Paul Dubrule and Gérard Pélisson attend Board meetings in an advisory capacity. GILLES PÉLISSON Chairman and Chief Executive Officer Chairman and Chief Executive Officer of Accor since February 24, He was for merly director and Chief Executive Of ficer as from January 9, His term of office expires at the close of the Annual Meeting to be called to approve the ac counts for the year ending December 31, He is also director of BIC SA and Télévision Française 1. PHILIPPE CITERNE (1) Vice Chairman Vice Chairman of the Board of Directors since May 13, He was formerly director as from January 9, His term of office expires at the close of the Annual Meeting to be called to approve the accounts for the year ending December 31, Société Générale, represented by Philippe Citerne, was formerly a member of the Supervisory Board, as from June 28, He was Chief Operating Officer of Société Générale from 1997 until April He is also director of Sopra Group and Rexecode, the private economic research center.
11 2009 ANNUAL REPORT 9 JEAN-PAUL BAILLY (1) Director since May 13, His term of office expires at the close of the Annual Meeting to be called to approve the accounts for the year ending December 31, Chairman of the French Post Office (Groupe La Poste) since 2002, Mr. Bailly has also been Chairman of the Supervisory Board of La Banque Postale since He also represents the French State on the boards of GDF SUEZ, Systar, CNP Assurances and Sopassure. THOMAS J. BARRACK Director since January 9, His term of office expires at the close of the Annual Meeting to be called to approve the accounts for the year ending December 31, Formerly member of the Supervisory Board, as from May 3, Founder, Chairman and Chief Executive Officer of Colony Capital LLC. He is also director of Challenger Financial Services Group Ltd. SÉBASTIEN BAZIN Director since January 9, His term of office expires at the close of the Annual Meeting to be called to approve the accounts for the year ending December 31, Formerly member of the Supervisory Board, as from May 3, Managing Director Europe and Chief Executive Officer of Colony Capital SAS. He is also Chairman and Chief Executive Officer of Société d Exploitation Sports & Évènements and Holding Sports & Évènements. GABRIELE GALATERI DI GENOLA (1) Director since January 9, His term of office expires at the close of the Annual Meeting to be called to approve the ac - counts for the year ending December 31, Formerly member of the Supervisory Board, as from July 2, Chairman of Telecom Italia. He is also director of Tim Participações SA and Chairman of the Board of Directors of Instituto Italiano di Tecnologia. DENIS HENNEQUIN (1) Director since May 13, His term of office expires at the close of the Annual Meeting to be called to approve the ac - counts for the year ending December 31, President of McDonald s Europe. BERTRAND MÉHEUT (1) Director since May 13, His term of office expires at the close of the Annual Meeting to be called to approve the accounts for the year ending December 31, Chairman of the Groupe Canal+ Management Board. He is also director of SFR and Aquarelle. VIRGINIE MORGON Director since May 13, Her term of office expires at the close of the Annual Meeting to be called to approve the ac - counts for the year ending December 31, Member of the Eurazeo Management Board. She is also member of the Board of Directors of the Women s Forum for the Economy and Society. ALAIN QUINET Director since August 27, His term of office expires at the close of the Annual Meeting to be called to approve the accounts for the year ending December 31, Vice-President Finance, Strategy and Sustainable Development and Member of the Executive Committee of Caisse des Dépôts et des Consignations. He is also Chairman of the Board of Directors of CDC Infrastructure and director of Compagnie des Alpes, Eiffage, CNP Assurances, Icade, Société Forestière de la CDC and Dexia. FRANCK RIBOUD (1) Director since January 9, His term of office expires at the close of the Annual Meeting to be called to approve the accounts for the year ending December 31, Formerly member of the Supervisory Board, as from July 3, Chairman and Chief Executive Officer of Danone. He is also Chairman of the Board of Trustees of Danone Communities, director and Chairman of the Compensation Committee of Renault SA, and director of Lacoste. PATRICK SAYER Director since August 27, His term of office expires at the close of the Annual Meeting to be called to approve the ac counts for the year ending December 31, Chairman of the Management Board of Eurazeo. He is also director of Europcar Groupe SA, SASP Paris Saint Germain Football, Holdelis, Gruppo Banca Leonardo and Colyzeo Investment Advisors. (1) Independent directors.
12 10 ACCOR GOVERNANCE EXECUTIVE COMMITTEE AT DECEMBER 31, 2009 IN 2009, THE EXECUTIVE COMMITTEE REPRESENTES ALL OF ACCOR S KEY CORPORATE FUNCTIONS AND OPERATING REGIONS. GILLES PÉLISSON Chairman and Chief Executive Officer JACQUES STERN Deputy CEO of Accor in charge of Accor Services and Finance
13 2009 ANNUAL REPORT 11 MICHAEL FLAXMAN Chief Operating Officer, Accor Hospitality Americas MICHAEL ISSENBERG Chief Operating Officer, Accor Asia-Pacific PASCAL QUINT Corporate Secretary and Secretary of the Board of Directors YANN CAILLÈRE Chief Operating Officer, Accor Hospitality Europe, the Middle East and Africa. Chief Executive Officer, Sofitel Worldwide In charge of Hotel Design and Construction Worldwide JEAN-LUC CHRÉTIEN Executive Vice-President, Accor Hospitality Marketing and Distribution SERGE RAGOZIN Chief Operating Officer, Accor Services Worldwide until December 31, 2009 PATRICK OLLIVIER Executive Vice President, Human Resources Worldwide
14 12 ACCOR 2009 KEY FIGURES 2009 WAS SHAPED BY AN UNPRECEDENTED ECONOMIC CRISIS. ACCOR HELD UP WELL THANKS TO ITS ORGANIZATIONAL RESPONSIVENESS, DILIGENT COST MANAGEMENT AND ASSERTIVE MARKETING INITIATIVES. OPERATING PROFIT BEFORE TAX AND NON-RECURRING ITEMS WAS AT THE UPPER END OF THE TARGET ANNOUNCED IN AUGUST THE FINANCIAL SITUATION REMAINS SOLID WITH DEBT REPRESENTING A LIMITED 1.6 BILLION AT DECEMBER 31, 2009 AND 2.5 BILLION IN UNUSED, CONFIRMED LINES OF CREDIT. 7,065 MILLION EUROS in revenue 448 MILLION EUROS in operating profit before tax and non-recurring items 28% EBITDAR margin MORE THAN 150,000 EMPLOYEES around the world IN 100 COUNTRIES
15 2009 ANNUAL REPORT 13 HOTELS 4,100 HOTELS IN 90 COUNTRIES NEARLY 500,000 ROOMS SERVICES 1.2 million AFFILIATES 490,000 CORPORATE CUSTOMERS 33 MILLION SERVICE USERS IN 40 COUNTRIES
16 14 ACCOR 18 RESPONDING PROACTIVELY TO AN EVER-CHANGING WORLD 24 DEVELOPING TO PREPARE FOR THE FUTURE 34 INNOVATIVE SOLUTIONS TO BOOST SALES 56 COMMITTED TO MEETING EMPLOYEE NEEDS 64 SUSTAINABLE DEVELOPMENT
17 2009 ANNUAL REPORT CRISIS, RESPONSE AND OUTLOOK ACCOR IS ACCELERATING ITS TRANSFORMATION AND ADAPTING TO THE NEW ECONOMIC ENVIRONMENT DOWNLOADING 98%
18 16 COST-REDUCTION PLANS launched very early and surpassed objectives. 165 million euro reduction in operating costs for owned and leased hotels. 87 million euro reduction in support function costs. ACCOR PURSUED ITS HOTEL EXPANSION PLAN WITH THE OPENING OF 27,300 ROOMS. ACCOR STRENGTHENED ITS PRESENCE IN INDIA BEST OF 2009 IN A SEVERELY WEAKENED ECONOMIC ENVIRONMENT, ACCOR HELD UP WELL AND STAYED ON COURSE, THANKS TO ITS ORGANIZATIONAL RESPONSIVENESS, DILIGENT COST MANAGEMENT AND ASSERTIVE MARKETING INITIATIVES. HERE ARE SOME OF THE YEAR S HIGHLIGHTS. TICKET ECOCHEQUE A BIG SUCCESS In Belgium, Accor Services introduced the EcoCheque voucher for purchases of green products and services. With the Ticket EcoCheque voucher, Accor is pioneering in the provision of environmentally responsible benefits for company employees. 1,000 HOTELS joined the Plant for the Planet program. EXIT GROUP Accor Services acquired Exit Group, the Czech Republic s fourth-largest issuer of restaurant vouchers. CREATION OF PREPAY SOLUTIONS Created through a strategic alliance between Accor Services and MasterCard Europe, this joint venture markets customized prepaid card solutions. FIRST TICKET RESTAURANT CARD IN SLOVAKIA Accor Services launched the first Ticket Restaurant card in Slovakia, confirming its leadership in the country and above all gaining a decisive edge over its competitors. ACCOR SERVICES organized a six-country bus tour for FOOD, a European program to combat obesity.
19 17 HIGHLY COMMITTED TEAMS Teams responded very quickly to the crisis, demonstrating initiative and creativity. The result? Exceptional sales and marketing initiatives. ALL SEASONS The hotel brand was launched in the United Kingdom and Germany. ACCORHOTELS.COM New homepage introduced to spearhead Accor s Web strategy. MOTEL 6 NORTHLAKE First Motel 6 built with the new Phoenix room concept. ONLINE PROMOTIONS to boost sales. INNOVATIVE BRAND INITIATIVES to attract the attention of value-conscious customers looking for good deals. MERCURE EXPANDING IN ASIA 11 hotels opened in 2009 and 18 others are scheduled to come on stream in INNOVATION Accorhotels.com launched its iphone application, which is free of charge and available in five languages (French, English, German, Spanish and Italian). A CLUB A resounding success with already more than 3.5 million members, the A Club loyalty program celebrated its first anniversary in IBIS celebrated its 100,000 th room in Munich FRANCHISING A convention for French franchising partners was held in Marseille. ASSET RIGHT Accor continued to deploy its asset-right strategy, with the sale of 157 hotelf1 properties in France for 272 million. A NEW CORPORATE WEBSITE FOR ACCOR
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