AccorHotels looks to midscale properties

A senior business leader for AccorHotels, a world-leading hotel operator, shared with China Daily the company's insights for the year of 2016, from business focus to strategy in its Greater China regions.

Michel Molliet, who took over as chief operating officer for AccorHotels Greater China on Jan 1, said the industry has seen a situation during the last 10 years, which has become more critical in the last two or three years, of an oversupply of hotels, especially upscale and luxury properties.

"We will still have a substantial amount of luxury hotels committed and we are planning to open 10 luxury and upscale hotels per year in Greater China. However, it is a slowdown," he said. "The next three to five years, we believe, the trend will continue into a growth of midscale (properties)," Molliet said.