Accor remains tight-lipped on potential IHG merger

Accor remains tight-lipped on potential IHG merger

Accor has refused to confirm or deny a report that the French hospitality giant is eyeing a potential merger with InterContinential Hotels Group (IHG).

Shares in both companies rose last week after French newspaper Le Figaro reported that while no formal approach had been made by Accor, the company’s management was keen to do a deal with its British rival.

However, the news outlet noted that after Accor boss Sebastien Bazin created a dedicated team to oversee the potential merger project in June, he decided against moving ahead with it for now, given the current climate.

An Accor spokesperson told Travel Weekly that the company doesn’t comment on market speculation, while an IHG spokesperson said that it too doesn’t comment on “rumour or media speculation”.

If a merger of the two was to eventuate, it would knock Marriott off its perch as the world’s largest hotel group.

Accor slumped to a €1.5 billion ($2.5 billion) loss in the first six months of 2020, while IHG posted a US$275 million ($383.4 million) half-yearly loss.

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