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Accor CEO says Jin Jiang board member would be complicated

Reuters
Sebastien Bazin, Chairman and Chief Executive Officer of French hotel operator AccorHotels, attends the company's 2017 annual results presentation in Issy-les-Moulineaux near Paris, France, February 21, 2018. REUTERS/Gonzalo Fuentes

PARIS (Reuters) - The chief executive of Accor said it would be complicated for the French hotels group if Chinese shareholder and fellow hotel operator Shanghai Jin Jiang Hotels sought a board seat.

CEO Sebastien Bazin told French weekend newspaper Le Journal du Dimanche that the Chinese group had not so far requested a board seat at Accor, whose portfolio include Raffles, Sofitel and Pullman hotels.

"If they did, that would bring a direct competitor in many countries and brands to the board. That seems complicated to me," Bazin said.

The Chinese group is Accor's biggest shareholder with a nearly 12 percent stake and voting rights of nearly 18 percent, according to a regulatory filing last October.

Bazin said that it was neither a "dream nor a nightmare" to have Jin Jiang as its biggest shareholder and that the two groups met every three months.

(Reporting by Leigh Thomas; Editing by Keith Weir)