Accor Sees Travel in Full Swing by Early 2023

The transcript discusses the recovery of the hospitality industry post-pandemic, highlighting the eagerness of people to travel and the strong return of the leisure market. It addresses labor shortages and the need for human capital, emphasizing the importance of adapting to new workforce expectations. The impact of US-China relations on business is explored, along with the significance of the Chinese market. Investment strategies are discussed, focusing on disciplined approaches and market opportunities. The transcript concludes with an optimistic outlook for the future, considering the rise of remote work and the potential for hotels to accommodate new working trends.

What is the expected timeline for the full recovery of the hospitality industry in geographically diversified regions?

• By spring or early 2023

• By mid-2024

• By the end of 2022

• By the end of 2023

What is identified as the biggest challenge for the hospitality industry in terms of labor?

• High employee turnover

• Labor shortages

• Lack of training programs

• Inadequate technology

What is one of the proposed solutions to address labor shortages in the hospitality industry?

• Hiring more part-time workers

• Reducing working hours

• Offering better pay and recognition

• Increasing automation

Why is the Chinese market considered critical for the hospitality industry?

• It is the largest domestic market

• It has the highest spending per tourist

• It was the largest emitting market in 2019

• It has the most diverse tourist attractions

What shift in focus is suggested for the hospitality industry to adapt to current market dynamics?

• Expanding into new countries

• Focusing on local and domestic markets

• Reducing the number of hotel locations

• Catering exclusively to international travelers

What is the reason for the disciplined approach to investments in hospitality-related assets?

• Lack of available assets

• Limited investor interest

• Regulatory restrictions

• High valuations in the market

What future trend is anticipated for hotels in terms of remote working?

• Hotels will focus solely on leisure travel

• Hotels will offer dedicated remote working spaces

• Hotels will reduce their workforce

• Hotels will become obsolete