Accor Services Gains Leadership of the Meal Voucher Market in the Czech Republic With the Acquisition of Local Operator Exit Gro
October 05 2009 - 2:43AM
PR Newswire (US)
PARIS, October 5 /PRNewswire-FirstCall/ -- As part of its growth
strategy, Accor Services has acquired Exit Group, the fourth
largest provider of meal vouchers in the Czech Republic. With a
strong position among small and mid-sized businesses, Exit Group
reported an issue volume of EUR77 million in 2008. Thanks to their
synergistic geographic coverage and customer bases, Accor Services
Czech Republic and Exit Group will combine to make Accor Services a
market leader in this high potential region. The Czech meal voucher
market is estimated at around EUR600 million for 1.2 million users.
Exit Group's products will quickly be re-branded with the Ticket
Restaurant name. Accor Services now offers two product families in
the Czech Republic: - Benefits for employees and constituents:
Ticket Restaurant, Ticket and Card Benefits, Benefity Cafe
(Employee Benefits) - Ticket Services (Government Benefits). -
Rewards and incentives: Ticket Compliments. With this acquisition,
Accor Services has widened its share of the meal voucher market and
will also gain access to Exit Group's 165,000 end users for its
value-added products and services. The transaction was finalized at
a price of EUR15 million. Accor Services Czech Republic's
post-acquisition issue volume is estimated at EUR250 million. "This
acquisition fits in with Accor Services' global growth strategy,
which combines organic growth and targeted acquisitions to quickly
enhance our positions in countries with high growth potential,"
explains Serge Ragozin, Chief Executive Officer of Accor Services.
Accor Services, the world leader in prepaid service cards and
vouchers, designs and develops innovative products and services
that enhance individual well-being and organizational performance
for companies and public institutions. Through its secure, prepaid
solutions, Accor Services makes life easier for employees,
constituents and consumers, in alignment with the social benefit
commitments, economic policy goals and marketing strategies of its
customers. Its portfolio focuses on three types of service:
employee and public benefits, rewards and loyalty, and business
expense management. Today, 32 million people benefiting from Accor
Services products in 40 countries. http://www.accorservices.com/
Accor, a major global group and the European leader in hotels, as
well as the global leader in services to corporate clients and
public institutions, operates in nearly 100 countries with 150,000
employees. It offers to its clients over 40 years of expertise in
two core businesses: - Hotels, with the Sofitel, Pullman, MGallery,
Novotel, Mercure, Suitehotel, Ibis, all seasons, Etap Hotel,
Formule 1 and Motel 6 brands, representing 4,000 hotels and nearly
500,000 rooms in 90 countries, as well as strategically related
activities, such as Lenotre. - Services, with 32 million people in
40 countries benefiting from Accor Services products in employee
and constituent benefits, rewards and incentives, and expense
management. DATASOURCE: Accor CONTACT: Accor Services Press
Contact: Monique Denoix, Image7, Tel: +33(0)1-53-70-74-57, ;
Investor Contacts: Eliane Rouyer-Chevalier, Senior Vice President,
Investor Relations and Financial Communications, Tel:
+33(0)1-45-38-86-26; Solene Zammito, Deputy Director, Investor
Relations, Tel: +33(0)1-45-38-86-33
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