10 November 2021, Virtual
London, UK - November 2021
London, UK - December 2021
Accor in recent months has formed an internal group to
assess the possibility of a merger with InterContinental Hotels & Resorts,
according to French outlet Le Figaro. Neither Accor nor IHG commented to Le
Figaro on the report. If such a merger took place, the combined hotel company
would be the largest in the world by number of hotel rooms.
Accor has made no formal approach to IHG, but its board of
directors favours pursuing the possibility, according to the report. CEO
Sébastien Bazin prefers to do nothing at this time, according to Le Figaro.
Like most hospitality companies, Accor and IHG have been
badly harmed by the Covid-19 pandemic. Accor this month announced
second-quarter revenue per available room fell 88.2 per cent year over year on a
like-for-like basis, while IHG this month said Q2 global RevPAR declined 75
per cent year over year.