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Holiday Inn may offer refuge from the current crisis due to pandemic

France's Le Figaro newspaper reported that Accor's CEO, Sebastien Bazin, considered an approach for the rival company before deciding the timing wasn't quite right

Hotels
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Shares in Accor have fallen 40 per cent since before the pandemic — about twice as much as IHG stock

Andrea Felsted | Bloomberg
With international travel decimated by Covid-19, it’s a dark time for hoteliers. So it’s hardly surprising that Accor SA might be interested in a merger with London-listed InterContinental Hotels Group Plc, owner of the Crowne Plaza and Holiday Inn brands.

France’s Le Figaro newspaper reported that Accor’s CEO, Sebastien Bazin, considered an approach for the rival company before deciding the timing wasn’t quite right. But if a deal could be agreed, there would be an opportunity to strip out costs to help the chains navigate the current crisis. 

IHG operates a so-called “asset-light” business model, where it doesn’t own much property —

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First Published: Aug 21 2020 | 12:53 AM IST

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