Accor's acquisition strategy might seem scattershot to some but buying up technology providers in key sectors does make sense. There's always an element of risk but you'd hope Accor knows how to get the best out of management teams.
— Patrick Whyte
Paris-based AccorHotels is getting deeper into the food and beverage sector with the purchase of online reservation software company ResDiary for an undisclosed amount.
ResDiary was founded in Glasgow, Scotland in 2004 and provides booking technology for more than 8,600 venues across 60 countries.
While it’s not the first time Accor has ventured outside its traditional beat, it’s another example of the company’s desire to own more of the wider leisure space.
Accor has 8,000 restaurants and bars in its portfolio, which bring in an estimated $6.2 billion (€5 billion).
What They Said
“Our ambition is to support ResDiary in its global expansion, consolidating its scale, and benefitting from its expertise to provide multiple attractive offers to our guests. This acquisition completes recent investments of AccorHotels in the food and beverage industry. It fully supports the group’s ambition to increase touchpoints with a fast-growing customer base,” said Sébastien Bazin, Accor Chairman and CEO.
Mike Conyers, ResDiary Co-founder and CEO, said: “We have had a very successful relationship with AccorHotels in Asia Pacific, and all the ResDiary team is thrilled to join the group. We are looking forward to expanding our service on a more global level with AccorHotels.”
What It Means
Like most hotel companies Accor has an extensive restaurant and bar portfolio and from Bazin’s comments it sounds like the plan is to use ResDiary internally as well as helping it grow externally.
It’s something that Accor has done in the hotel sector by buying up tech providers like Availpro and Fastbooking.
ResDiary will also complement high-end catering company Potel & Chabot, which Accor has a stake in.