Accor - Demerging the Two Businesses and Details of the Demerger Process
The Accor Board of Directors has approved the demerger of the Group's two core businesses, Hotels and Services, and outlined the demerger process. Employee representatives have already responded to the demerger plan, which will be submitted to shareholders for approval at an Extraordinary Shareholders Meeting on June 29, 2010.
Demerger rationale
Today, both businesses are market leaders, with the critical mass and international reputation to operate independently in fast changing markets. With 4,100 hotels in 90 countries and 145,000 employees, the Hotels business is the European market leader and a global hotel manager, with a unique foundation in the midscale and economy segments.
Accor Services which, after years of strong growth, now operates in 40 countries with 5,600 employees, has become the world leader in employee and public benefits and a major provider of prepaid services, with more than EUR12 billion in issue volume in 2009.
Today, it is clear that:
