asset-light or asset-right

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1、Asset-lightorasset-right?轻装上阵还是全副武装AboardroomtussleoverstrategyatAccorillustratesthehotelindustry’sdebateaboutitsbusinessmodel雅高集团（Accor）董事会内部在集团战略上的争执体现了整个酒店业在商业模式上的争论Nov11th2010“PARISisverychatty,”saysPhilippeCiterne,thevice-chairmanofAccor,Europe’sbiggesthotelgroup.Fearingthatitssec

2、retmightnotlast,onNovember3rdAccor’sboardrushedoutthenewsthatGillesPélisson,thechairmanandchiefexecutive,wouldbereplacedbyDenisHennequin,thebossofMcDonald’sinEurope.TheboardwasanxioustoavoidanotherfiascoliketheoneoverMrPélisson’sappointmentin2005,whenitsannouncementthatitwasremovinghis

3、predecessor,Jean-MarcEspalioux,wasprecededbydestabilisingleaks.按照雅高集团的副董事长PhilippeCiterne的说法：“巴黎是个闲话满天飞的地方”。因为担心消息被泄露出去，欧洲最大的酒店集团雅高集团的董事会在11月3号仓促宣布，董事长兼首席执行官GillesPélisson将会卸任，接替的是麦当劳前欧洲总管DenisHennequin。这样做的目的也是董事会想极力避免再次重演2005年任命Pélisson先生时的混乱局面。当时，解聘前任Jean-MarcEspalioux的决定还未公布，消息就已走漏

4、，并严重影响了集团的运作。AddingtothestrifebackthenwasthefactthatMrPélissonisthenephewandheirofGérardPélisson,oneofAccor’sfounders.Thisinevitablypromptedquestionsoverwhetherhehadwonthejobpurelyonmerit.当时颇具争议的是Pélisson先生是雅高集团创建人GérardPélisson的侄子和继承人。这不可避免地让人怀疑他是否完全因出身才获得职位。Sincethen,however,MrPéliss

5、onhasdispelledanysuchdoubts.Hebuiltupthegroup’sbusinessinpre-paidservicevouchersthroughaseriesofacquisitionsbeforefloatingitasaseparatecompanyinJuly.HesteeredAccorsafelythroughtherecentdownturn,inwhichitshotels—mainlybudgetandmid-rangebrands,suchasMotel6andIbis—didbetterthanthoseofothe

6、rgroups.HealsopushedthroughanupgradingofAccor’smoreupmarketSofitelbrand.Thehotelbusiness’srevenuesforthefirstninemonthsoftheyearwere7.4%higherthanayearbefore,anditrecentlyraiseditstargetforfull-yearoperatingprofitstomorethan€400m($550m).但此后的Pélisson先生逐渐摆脱了这些质疑。他通过一系列收购，建立了集团的预付费服务票据业务，

7、并在7月将其分离成独立运作的公司。而在刚刚过去的经济衰退中，雅高集团在他的掌控下也得以平安渡过，特别是旗下的经济型和中档品牌酒店（如Motel6和Ibis）取得了好于其他酒店集团的业绩。此外他也采取措施，积极提升高雅集团高端酒店品牌Sofitel的品牌价值。酒店今年前九个月的营业收入比去年同期提高了7.4%，全年的目标运营利润也刚刚被提高到4亿欧元以上（约合5.5亿美元）。MrPélissonsayshewouldhavelikedtostayanotheryearortwo,thoughheadmitsthathedidn’thaveaharmoniousre