French hotelier Accor predicts that its hospitality business in the Asia-Pacific region will take longer to recover than other parts of the world as China has not reopened its borders. But despite the setback, the company is upbeat about the recovery of the hotel sector in the region and predicts that its profitability will be better than before the pandemic.
“Many countries in Asia can be still 50% lower [in profitability] than pre-pandemic,” Accor CEO Sébastien Bazin says in a video interview from Singapore. “It’s probably six months late-cycle recovery compared to the Western world.”
The Asia-Pacific region is important to Accor. As of October, the group
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