Sofitel's Luxury Makeover Returns a Profit


Accor's once money-losing brand is now a smaller, profitable line
of French-inspired, global luxury hotels

By Venessa Wong
June 10 (Bloomberg BusinessWeek) -- Singapore’s old Ogilvy
Centre, a 1920s landmark built in neoclassical style and boasting
large, decorative, iconic columns and recessed balconies with
cast-iron balustrades, will reopen as a high-end Sofitel hotel in
2013. The $100 million project will be among several Sofitel
launches since its parent company Accor (AC:FP) began
repositioning the French-inspired lodging chain as a luxury
international hotel brand in 2007. Moving upscale meant slashing
the portfolio to 120 hotels in 2011, from 201 in 2006. Big name
designers and architects were hired to craft new properties and
renovate existing ones. All staff received training on providing
top-notch service. The result, says Chief Executive Robert
Gaymer-Jones: The once money-losing hotel brand is now
profitable.....