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Accor CEO and Chairman Sébastien Bazin spoke at the Arabian and African Hospitality Investment Conference (AHIC) and highlighted the increased focus on sustainable tourism and hospitality. Bazin announced that Accor will be joining the Sustainable Hospitality Alliance, which aims to address key challenges affecting the sector and its people through collective power. JLL’s annual ‘Global Hotel Investor Sentiment’ survey also revealed that sustainability and ESG were named as one of the top three priorities for hotel investors.
Bazin emphasized the importance of vaccination rollouts for the recovery of the sector, and with 81.55 percent of the UAE population now doubly vaccinated, hotel occupancies reached 62 percent in the first half of 2021. While Bazin remains optimistic about domestic and intra-regional business travelers making a comeback, he predicts that the sector stands to lose at least 25 percent of international business travelers.
In other news, Accor announced a new deal with Taiba Investments, one of the largest real estate companies in Saudi Arabia, to open the first Novotel hotel in Madinah. Accor currently operates 34 properties in Saudi Arabia and has another 25 properties in the pipeline.
Accor’s membership to the Sustainable Hospitality Alliance further reinforces the company’s commitment to sustainability and ESG efforts. The alliance, consisting of 14 world-leading hotel companies and making up 25 percent of the global hotel industry by rooms, aims to address key challenges affecting the industry and the communities it serves.
As per JLL’s ‘Global Hotel Investor Sentiment’ survey, sustainability and ESG are among the top priorities for hotel investors over the near-term. Therefore, Accor’s membership in the alliance is a significant step towards achieving sustainability goals in the industry.
Bazin emphasized the importance of vaccination rollouts and their contribution to the recovery of the hospitality sector. With 81.55 percent of the UAE population fully vaccinated, the country has seen a significant increase in hotel occupancy. Bazin remains optimistic about domestic and intra-regional business travelers returning but anticipates a loss of at least 25 percent of international business travelers.
Accor’s new deal with Taiba Investments in Saudi Arabia is a reflection of the company’s growth strategy in the Middle East. The new agreement is expected to bring the first Novotel hotel to Madinah. Accor currently operates 34 properties in Saudi Arabia, with another 25 properties in the pipeline.
Overall, the hospitality sector is increasingly recognizing the importance of sustainability and ESG initiatives, as reflected in the top priorities for hotel investors. Accor’s membership in the Sustainable Hospitality Alliance and the new deal in Saudi Arabia demonstrate the company’s commitment to expanding its presence in the Middle East and promoting sustainable tourism practices.
