Accor CEO reveals how super yachts with billion-dollar tickets attract rich guests

Accor hotel group and luxury retail brand LVMH joined hands to revive Orient Express – a luxury train brand of the 19th century. The difference is that they take this brand “to sea”.

Last month, they officially launched Orient Express Corinthian, the world’s largest sailing superyacht, nearly 220 meters long, including 54 rooms. Rooms have an area of ​​45-230 m2, priced from 17,000-47,000 euros (about 0.5-1.5 billion VND). Disclosure above ReutersAccor CEO Sebastien Bazin said they target the emerging class of technology billionaires. Accor takes on the executive role in the Orient Express joint venture.

Mr. Bazin has high hopes for the new class of billionaires created by the artificial intelligence (AI) boom, which will help accelerate the development of luxury experience services. “When you become very rich, money no longer has meaning,” said the Accor CEO.

When a person owns 7 houses, 12 cars and 17 watches, Mr. Bazin said they still have a list of things they want to do in life. “It’s not about owning an 18th watch,” he said, emphasizing the “recognition” factor.

According to a Bain study published midweek, spending on luxury experiences is expected to increase by 9-11% this year, far exceeding the 1-4% growth of goods in the same segment.

The technology boom in the US and rich countries is driving the growing number of AI billionaires. They want to use private planes, yachts and increasingly flock to big events such as Formula 1 racing.

Also following this trend, Orient Express Corinthian’s itineraries rely on major events such as the Cannes Film Festival and the Formula 1 race in Monaco, for customers to show off their “social status”.

To match the class of Accor and LVMH, this super yacht is designed with five restaurants, run by French chef Yannick Alléno. He is the owner of Michelin-starred restaurants in London and Paris. The superyacht also includes eight bars, each with its own style and menu. For example, La Piscine, the pool bar on deck 5, has cool cream and maroon tones and unique cocktails, ideal for gazing out at the French Riviera.

The yacht is also equipped with many of LVMH’s brands, from the Guerlain beauty salon to the prominent bottles of Hennessy cognac in the most expensive penthouse rooms. “The interior is reminiscent of the best years of tourism. Everything was sophisticated and elegant in the 1920s and 1930s. I wanted to revive that atmosphere,” Mr. Bazin said.

Orient Express Corinthian is one of two yachts targeting the super-rich in technology of the Orient Express joint venture. The second yacht will be delivered next year.

Sheet Maritime Executive noted a wave of luxury hotel brands entering the cruise industry. Ritz-Carlton and Four Seasons have also launched their cruise ships. Aman is building a luxury yacht in Italy, expected to operate in 2027.

With Accor, CEO Bazin emphasized that his leadership revolves around a three-year strategy for the business, with the core element of “not changing direction” midway, no matter what happens.

“Don’t withdraw from a country in conflict. Trust and concern are very important,” he said. Because, your partner will always remember that you were by their side during difficult times, not “when good things come, when you encounter difficulties, run away”. That is also the reason why Mr. Bazin visited Dubai (UAE), even though the Fairmont hotel in this city (affiliated with Accor) was attacked by Iranian missiles in March.

Returning to the story of superyachts, Mr. Bazin said he “erased” the idea of ​​”pulling customers to the product”. “I asked myself ‘can we do the opposite’, and we decided to bring hotels to customers,” he said. With Orient Express Corinthian, he said up to seven customers booked entire yachts to accommodate their 100 guests.

In addition, he confirmed future merger and acquisition (M&A) rights with LVMH, amid the booming experience market and the luxury goods industry struggling with weak growth in handbags, fashion, and watches. Reuters believes that if either party decides to exercise the right to buy back, there is a high possibility that the buyer will be LVMH, because the luxury group has 10 times the revenue of Accor.