AccorHotels announced today that it has finalized the acquisition of John Paul, the
number-one player in the concierge market
. John Paul founder David Amsellem will
retain a 20% stake in the company and co
ntinue to serve as its Chief Executive
Officer. This acquisition values the
company at US$150 million, i.e. a 2017e
EV/EBITDA multiple of c.11x.
John Paul was established in Paris in
2007 and merged with American company
LesConcierges in 2015 to create the world
leader in premium customer and employee
loyalty services. John Paul’s over 1,000 empl
oyees around the world come from the most
eminent palaces and are available 24/7 to cate
r to their customers’ every request, from
the simplest to the most extraordin
ary, anywhere around the globe.
John Paul’s 50,000-partner worldwide networ
k, powerful proprietary CRM software
application, and management platform with embedded 360° personalization and
profiling capabilities, put the company in
a position to deliver comprehensive and
trailblazing loyalty solutions in many industries.
For John Paul, which is already very active in the travel industry, this move is an
unrivalled opportunity to cement its expertis
e and partnerships through the AccorHotels
Group’s 4,000+ hotels and 3,000+ restaurants worldwide.
AccorHotels will leverage John Paul’s expertis
e to take the Group’s strategy – placing
customers at the center of everything it does
– to the next level, and to generate new
revenue streams from services.
AccorHotels and John Paul will join their inno
vation-driven and service-focused cultures
to provide the best travel experience.
John Paul CEO David Amsellem said,
“I’m very excited about the idea of working with
the AccorHotels Group at such a crucial phase in its transformation. The synergies with
the group will afford us unparalleled competitive advantages in a market where there
are more opportunities than ever before. Th
is transaction will be a catalyst for our
development, meaning organic gr
owth and consolidation alike.”
AccorHotels CEO Sébastien Bazin added,
“I’m very happy to be ab
le to work with David
Amsellem. John Paul is a great find in the
customer relations business. Starting today,
we will be combining our expertise, streng
ths and talents, and providing an even
broader choice of services to
treat all travelers to the be
st experience before, during
and after their stays.”
