The Ukraine Crisis and the Hotel Business

We're going from 20 to 50 hotels in Russia,said Sebastian Bazin,CEO of Accor SA,at the International Hotel Investment Forum in Berlin.I'm gonna be very candid with you.I'm gonna let the politicians decide what to do with this.It's too soon to halt projects.I just cannot make the decision on over the last 72 hours.I'm going myself to assess the situation.*
We've been for 35 years in China.It is a vital and a great country for our core.It really is.We have over 3500 hotels and 450,000 rooms.The Chinese ledger's been evolving immensely for the last five years,so just pay attention.We are the Euro market leader.There is immense value for the real estate at our core.*
I'm going for a 5-10 year journey here.We're gonna be opening 750 hotels over the next three years.Europe is the market where we're expanding the least.Let's maintain and increase the leadership.Five years from today,it will be maybe 55-60% of our portfolio.*
We've just signed for a 200 room hotel in Tbilisi,Georgia,said Angela Brav,Group CEO for Europe,Intercontinental Hotels Group.A Holiday Inn Express has also been signed for in Sheremetyevo Airport in Russia.We have a key market strategy:UK,Germany,Russia.We want to have 100 hotels in Russia by 2020.We have 19 right now in Russia and the CIS.
It's a very serious situation for us.The single most important thing for us is,we are continuing to monitor the situation.We'll make those decisions when necessary.Right now we're continuing our strategy of growth.We saw the fourth quarter really moving in the right direction.GDP is going up and unemployment is in the right place-in the right place almost in all segments,business and leisure.
Our single most important focus for us is that people book directly with our hotels.I think technology can only help us.We have clearly delineated brands.We opened six of our nine brands in London in the past nine months.*
Accor SA(AC:EN Paris),Interncontinental Hotels Group(IHG)