The hospital group Accor, which in 2017 already owned 38% of the shares of Paris Society, has just obtained 100% of them after a purchase valued at 330 million euros. The consolidation of a collaboration that should assist the group in the creation and management of exceptional places in its development but which should not change anything to the current management.
"This will allow us to accelerate our development, but all the managers will remain in place, myself first, and for many years, contrary to what usually happens. You don't change a winning team: Accor and Paris Society have the same type of DNA" - Laurent de Gourcuff, founder of Paris Society
This is an important strategy in the eyes of Sébastien Bazin, who is counting on the creators of brands to continue to embody them.
The Paris Society group currently has around fifty addresses, all of which share common codes:
- Unique places with identical scenography and design. The group works with architects and designers to develop a strong visual identity with a luxurious and intimate feel.
- Prestigious locations with terraces or exceptional settings: Mun on the Champs-Elysées, Girafe opposite the Eiffel Tower, Monsieur Bleu and Bambini at the Palais de Tokyo, Gigi on Avenue Montaigne and in Courchevel, and soon Mima, at the top of the Institut du Monde Arabe (IMA).
- A trendy and festive atmosphere. The group's addresses for a wealthy clientele are pushing the abundance and art of living à la française.
They have developed a portfolio of venues based on 3 complementary pillars:
- Places, prestigious venues to host events
- Tables, high-end restaurants
- Clubs, institutions of the Parisian nightlife like Castel.
With the support of Accor, Paris Society hopes to accelerate its development abroad and enter the hotel business. The group already has two hotel operator projects underway: the Abbaye des Vaux de Cernay near Paris and the Citadelle in Belle-Île-en-Mer
For its part, the Accor group is extending its spectrum and completing its portfolio and enriching the Ennismore branch, which will officially come under the control of its CEO Sébastien Bazin in early 2023. The group had already invested in entertainment venues such as the Lido or the Accor Arena in Bercy.