The French hotel giant reported weaker-than-expected H1 results. Management expects that RevPAR will return to its normal level only by 2022 and business may probably be down by 10% permanently. The newly-launched cost savings plan should help until travellers come back.
07 Aug 2020
Further cost cutting to grapple with the industry's structural downsizing
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Further cost cutting to grapple with the industry's structural downsizing
The French hotel giant reported weaker-than-expected H1 results. Management expects that RevPAR will return to its normal level only by 2022 and business may probably be down by 10% permanently. The newly-launched cost savings plan should help until travellers come back.