Accor is the largest non-Chinese hotel operator in Europe, Asia-Pacific, Pacific and South-East Asi. In 2014, it announced a “strategic alliance” with Chinese hotel group China Lodging. As such, Bazin said it was essential for his company to be in China.
“For me, it’s critical to be much closer to the Chinese operator. It is the time to build bridges and to enhance each other’s business,” he said.
“Trying to be competitive as a non-Chinese operator in China is extremely difficult because they have a way of operating that is probably more efficient, more agile and lesser cost. So, for me, my main objective is to get my brand visible in China, which is why we’ve done a partnership with China Lodging.”
“What I want is to benefit from the very large market — 120 million Chinese are today traveling outside of China. But the more they see and experience my brand in China, the greater likelihood I have to host them in Australia, in the Pacific and in Europe,” he added.
France strikes deals with China
Macron’s state visit to China was his first since he became president last May. A number of business deals and investment plans were reached during the trip.
The deals announced have failed to meet expectations, however, although Macron downplayed this, stating Wednesday that his “philosophy is not to flaunt the nominal amounts of contracts,” Reuters reported.
Macron is keen to sign more trade and investment deals, but wary of giving too much away to China, a country that has been roundly criticized for not opening up its own markets to investment and trade while making the most of openness elsewhere. He told President Xi Jinping to open up Chinese markets to foreign investment, or risk a protectionist backlash.
Offering to make the first move, Macron said Tuesday that he could open French markets to Chinese investment if China did the same for France.
“On the economic front, we discussed it with President Xi, we know where we are going,” Macron said.
“After a long situation of asymmetry, we decided several years ago to rebalance. I would like this rebalancing to translate itself into more Chinese investment in France and into more access to the Chinese market for French companies. It’s the right way to get out from the current situation we’re in.”
President Xi signaled Tuesday that Beijing was receptive to foreign trade and investment.
“Looking at the future, China will insist on the basic state policy of open door,” he said. “We will continue to open our door for construction and promote high-level trade freedom and investment facilitation. We will comprehensively implement the system of national treatment and negative list for market access. We will greatly broaden market access and protect the legal rights of foreign investments.”
