Maintaining the lead demands a core transformation
The company wanted to stay ahead of their historical competition and face the emergence of Online Travel Agencies and private rental companies by switching to an asset-light business model and making substantial investments in loyalty programs, new acquisitions and marketing. To generate the necessary capital for this transformation, they decided to divest the majority of the hotels they owned.
AccorInvest, a separate legal entity, was created for handling the real-estate transactions. To separate AccorInvest from Accor, a series of complex activities were carried out, including IT vendor due diligence. This exercise was integral to understanding and mitigating any risks in order to present an attractive risk profile and insure business continuity to external investors.
Securing the IT foundation to support future implementation
BearingPoint began the IT vendor due diligence task with a complex assessment of the IT landscape. A detailed IT separation plan was developed, including a separation budget. BearingPoint also defined the target IT organization together with the target budget (Capex/Opex) and articulated the implementation approach for all key functions. Legal matters around IT supplier contracts were also addressed. This resulted in no further inquiries from investors.
Facilitating major investments to position Accor as global leader in hospitality
The quality of the IT vendor due diligence, along with the seamless execution of the IT carve out substantially contributed to the smooth separation of AccorInvest. As a result of the divestiture, Accor raised €4.7 billion to leverage in purchasing new assets. The capital raised and the focus on new hospitality companies acquisitions, combined with investments in loyalty and additional well-being services, enabled Accor to consolidate its position as a global leader in the hospitality industry.
Client
Accor is a global leader in hospitality with a portfolio of over 33 brands that range from luxury to economy 4800 hotels in 100 countries.
