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Travel Accor buys the Lido in Sodexo

18:25  14 october  2021
18:25  14 october  2021 Source:   challenges.fr

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Sodexo se sépare de son célèbre cabaret des Champs Elysées © SDP Sodexo separates from its famous Cabaret Champs Elysees Exclusive- The Accor Hotel Group has concluded with the giant of the collective catering Sodexo which gives it the famous cabaret located on the fields. Elysees.

Sodexo throws the sponge. Despite an investment of 25 million euros in 2015 to create a new magazine signed by the director Franco Dragone , the group of collective catering had never really managed to take off the famous Cabaret of Champs Elysees. The attacks, the events and now the epidemic were right of the artistic ambitions of the company of the Bellon family. Even though this 75-year-old staff had managed to generate 36 million euros in business figures in 2018 with nearly 450,000 spectators, recent events cut short to its renewal. Even today, despite the reopening of theaters and restaurants, the activity has not always returned to the normal for the Lido because of the absence of the large quotas of foreign tourists in Paris. The cabaret remaining closed several days a week.

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New Economic Model of the

show for Sodexo, it is also the illustration of a new economic model in the activities of shows, recreation and tourism. For the group currently led by President Sophie Bellon, pending the appointment of a new Director General, it is a question of focusing on the provision of restoration, reception and maintenance services, without being the Owner of the business. A well-known asset light strategy of the Accor Group. The Covid only reinforced Sodexo in this decision that had already been taken before the epidemic. According to one close side, the transaction amounts to a very modest sum. The group will also separate from its boat companies promenade and cruise Diners on the Seine.

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before the Accor group wins, other operators such as the Alps Company (Grévin, Futuroscope, Park Asterix) and the barrier group had shown their interest. This acquisition decided by the President of Accor, Sébastien Bazin may aggravate the feeling of misunderstanding of some of the franchisees of the hotel group. These are desolated to see the Group investing the capital gained by yielding its walls and business in activities increasingly distant from its business, the hotel.

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This is interesting!