ACCOR UK ECONOMY HOTELS LIMITED
Company Information
- Company Number
- 01244907
- Registered Address
- 10 Hammersmith Grove, London, England, W6 7AP
- Status
- Active
- Employee Count
- 1,077
- Turnover
- £218,207,000
- EBITDA
- £49,878,000
Additional Details
- Website
- https://ibishotel.com
- Company Type
- Private limited Company
- Incorporated On
- 18 February 1976
- Nature of Business
- 55100 - Hotels and similar accommodation
- Industries
- Travel And Transportation
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Company Review
Trend Analysis
The trend for ACCOR UK ECONOMY HOTELS LIMITED is generally stable with some fluctuations. The average time to pay has increased over the years, with a significant jump in 2020. The percentage of invoices paid within 30 days has also decreased, while the percentage of invoices paid between 31 and 60 days has increased. The percentage of invoices paid later than 60 days has fluctuated, with a significant increase in 2020. The percentage of invoices not paid within agreed terms has also increased over the years.
Volatility Analysis
The volatility for ACCOR UK ECONOMY HOTELS LIMITED is moderate, with some significant changes in certain periods. In 2020, there was a significant increase in the average time to pay and the percentage of invoices paid later than 60 days. This was also reflected in the percentage of invoices not paid within agreed terms. In 2021, there was a decrease in the average time to pay and the percentage of invoices paid later than 60 days, but an increase in the percentage of invoices paid between 31 and 60 days and the percentage of invoices not paid within agreed terms.
Summary Analysis
Looking at the data for the last three periods (2020-2022), there has been a noticeable increase in the average time to pay for ACCOR UK ECONOMY HOTELS LIMITED. In 2020, there was a significant jump from 47 days to 76 days, before gradually decreasing to 52 days in 2022. This indicates that the company has been taking longer to pay their invoices to suppliers.
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2022 - 30 Jun 2022 | 11 Aug 2022 | 52 | 25% | 62% | 14% | 41% |
| 01 Jul 2021 - 31 Dec 2021 | 02 Mar 2022 | 55 | 16% | 65% | 20% | 55% |
| 01 Jan 2021 - 30 Jun 2021 | 02 Mar 2022 | 78 | 16% | 43% | 41% | 76% |
| 01 Jul 2020 - 31 Dec 2020 | 29 Jan 2021 | 76 | 14% | 30% | 56% | 77% |
| 01 Jan 2020 - 30 Jun 2020 | 06 Aug 2020 | 56 | 18% | 58% | 24% | 59% |
| 01 Jul 2019 - 31 Dec 2019 | 27 Jan 2020 | 47 | 20% | 70% | 10% | 45% |
| 01 Jan 2019 - 30 Jun 2019 | 23 Jul 2019 | 48 | 22% | 68% | 10% | 44% |
| 01 Jul 2018 - 31 Dec 2018 | 30 Jan 2019 | 46 | 22% | 68% | 10% | 43% |
| 01 Jan 2018 - 30 Jun 2018 | 30 Jul 2018 | 46 | 27% | 64% | 9% | 33% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
All invoices accounted on the purchase ledger at the closing of month M are paid through a single centralised payment around the 13th of month M+1. The cut off date to account for invoices is the 25th of month M. As a consequence, given our payment practices, our standard payment terms negotiated with nominated suppliers is 43 days average. For non referenced suppliers, each hotels are negotiating individually payment deadlines (no standard – but non-significant as only 15% of the purchases are done through non nominated suppliers). These suppliers will be paid as described above. However, some suppliers have different payment terms : - EDF (14days), Total (14d), water supplier for Scotland (30d) : these suppliers are paid by direct debit - Rent : depending on the contract. Always paid on due date. Mainly 1st day of each quarter (or alternatively last day of the previous quarter if the 1st day of the quarter is not a working day) - Management Fees paid to AccorHotels : 30days (paid the last day of the month) - Business rates : paid by direct debit - TA Commissions : manual payment for Booking.com performed on the 20th of each month related to previous month; direct debit for Fastcom on a weekly basis - Barclaycard: paid by direct debit round the 10th of each month
Were there any changes to the standard payment terms in the reporting period?
Yes – Following the crisis of the Covid 19, we have been negotiating payment delays with our suppliers and our landlords . We started to revert progressively back to our normal terms. The accounting Centre team was following up with suppliers the situation and organize payment when necessary .
Any other information about payment terms
N/A
Maximum contractual payment period agreed
43
Dispute Resolution Process
In case of complaints or disputes, suppliers can contact our accounting team generic email address : accounts.uk@accorinvest.com. The team will deal with the requests and inform shortly the supplier of the outcome: either the payment can be made, or it needs an extra validation by the hotel General Manager. When the payment is validated we organise every Wednesday a manual 3 day payments. If the request is extremely urgent we can organise exceptionally same day manual payments.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
✅
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
❌
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
ACCOR UK ECONOMY HOTELS LIMITED is a leading hotel group in the UK, offering a range of affordable and sustainable accommodation options. The company is committed to promoting sustainable practices and has implemented various initiatives to reduce its environmental impact.
The company operates a number of budget hotel brands, including Ibis, Novotel, and Mercure, with over 200 hotels across the UK. These hotels offer comfortable and modern rooms, as well as facilities such as restaurants, bars, and meeting rooms.
ACCOR UK ECONOMY HOTELS LIMITED places a strong emphasis on sustainability, with a focus on reducing energy consumption, waste, and water usage. The company also works towards sourcing locally produced and organic products for its hotels and promoting responsible tourism.
Key people within the company include CEO Thomas Dubaere and CFO Jean-Jacques Morin. The company's registered office address is 1209 London Road, Leigh-on-Sea, Essex, SS9 2UA.
For more information about ACCOR UK ECONOMY HOTELS LIMITED and its sustainability efforts, visit their website at www.accorhotels.com/uk or contact them at 020 3478 5277.
