Americans don't 'play that much' in the luxury industry, Accor CEO says

Also than ever it’s you’re going to be, you’re looking at it probably 5 to 7% growth in travel and tourism, probably 4 to 5% into the premium economy segment which is a more affordable, more affordable segment because it’s being kind of actually built of infrastructure exists putting aside the developed countries in which is going very fast. The lifestyle growing at probably 12 to 15%, so three times premium and economy and luxury, probably two times the 8 to 10%. So it’s more difficult, it’s more investment, it’s more human capital, it’s more experience driven. You can’t fail, but it’s more rewarding. So brand value fulfilling fulfillment. Sorry. It’s and then like if I may say it was my own words. This is probably the niche we can play being French router. The half of the luxury goods happen to be French born. Americans don’t play that much in that game and nor do the Chinese. So that was a little niche in which Akko could invade the market. So you want to be the the LVMH of hospitality. I wish one day I couldn’t even say that my dream of being yes can I be? I don’t know. Can you be the Orient Express brand? Because I know that’s one with you opening 3 hotels by 25, two trains super yoses reward but super usually. And talk to some Middle East investors about super yachts as well. Is that the kind of product that you’re trying to develop? Yeah, it’s going back to talking about the DMH whether it is the Ms. channel and carrying its We made one mistake, one mistake in the hospitality space. We never thought about the history of a brand, the heritage of a brand. Why? Because most of our brands have been created in 1960s except we own 4 brands of the 100 years old. Pullman, Fairmont, Orient Express. And I forgot, that’s the first one. And it’s it’s fascinating. Not expressing these 140 years old and not express is precisely the best of the best. It is high end. It’s not a product. It’s a feeling. It’s gala. It’s mahogany. It’s Lalique. It’s Agatha Christie. That brand is exactly what people can wish for as long as you deploy it smartly. So you’re going to have an Art Express in Venice, in Rome, in Istanbul, where he’s meant to be. Then we’re doing the train that we found back. We’ve lost missing in Action since 1977, so 1906. And then we’re creating the biggest ever luxurious sailboat ever built and that’s only 52 cabin and that’s going to be in a water of Caribbean and and probably in the Med and that never been done before. There’s going to be the largest cabin and best experience. It’s going to be atrociously expensive and hopefully worth it.