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Accor: Shareholders’ AGM dedicated to openness

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Published on 14/05/12 - Updated on 17/03/22

The Shareholders’ AGM, chaired by Chairman and CEO Denis Hennequin, was held on 10 May, in Paris. Shareholders either present or represented (the quorum), who altogether hold 75.67% of the shares, adopted all the resolutions.

During the AGM, Denis Hennequin underlined Accor’s healthy results in 2011 and walked shareholders through the Group’s strategy.He highlighted developments in the system that enables to drive the Group’s transformation, the “P&L Performance”, which now provides detailed results for the various operation modes. He also presented the new sustainable development program, PLANET 21, which sets 21 goals for 2015, and its pledge to provide updates on progress towards those goals every year. Denis Hennequin told shareholders about the latest developments in efforts to re-dynamise economy brands with the new brand architecture – ibis as the “mega-brand” encompassing three brands, namely ibis, ibis Styles (formerly All Seasons) and ibis budget (formerly Etap Hotel). Lastly, he confirmed the Group’s growth objectives, i.e. to open 40,000 rooms in 2012 and 2013, mainly under franchises and management contracts.Besides, Sophie Stabile, CFO, commenting on business levels for 2012, announced that RevPAR had been positive for all segments last April, with respective increases of +6.3% for Upscale & Midscale hotels, +5.5% for Economy Hotels excl. the US, and +1.9% for US Economy Hotels, all these performances being mostly led by price, in line with the trends seen in the first quarter of the year.The €0.65 per share ordinary dividend and €0.50 per share extraordinary dividend were approved by the Shareholders’ AGM. The dividend will be paid out on 14 June 2012 (ex-date: 11 June 2012).The Shareholders’ AGM also renewed the 3-year terms of Board members Ms Mercedes Erra, Mr Jean-Paul Bailly, Mr Philippe Citerne and Mr Bertrand Meheut. They are independent Board members.

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