According to a recent report by Accor Hotel, they believe they won’t be able to recover from the global crisis any time soon. They believe it will take them at least 5 years to recover revenues.

Peter Verhoeven, chief of the company’s German operations said: “We have lost about 15 percent of revenue, and we won’t be able to increase prices by more than 3 percent per year in Germany.”

The situation is critical and Accor Hotel is Europe’s largest hotelier, which means that small hotels might be able to take advantage of this situation, by lowering their prices.

Trackback URI | Comments RSS