Emmanuel Malan, the general manager of Accor Services, considers the Romanian voucher market, one of the most profitable segments of the economy, is saturated at this moment and time has come for linear development through product portfolio diversification. "We want something new for our customers and luncheon vouchers (under the Tichet Restaurant brand) are a basic product. It is services that will make the difference on the market," stated Malan.
Emmanuel Malan, 45, has been general manager of Accor Services since January 2003. The Frenchman came to Romania after he had run Academie Accor training company in France.
Beside luncheon vouchers, the products Accor Services has launched include international cards for discounts at the group's hotels (Sofitel, Mercure, Novotel, Ibis and Suitehotel), discount cards for use in the group's hotels in Romania (Sofitel, Ibis or Continental partner chain), as well as risk and accident insurance, valid in the case of employees benefiting from nominal luncheon vouchers. These services are provided to companies included in the customer portfolio of Accor Services. "Our strategy is to diversify our portfolio to the highest extent possible; we started with Tichet Cadou (Gift Voucher) three years ago and now we have some diversification products, such as Tichet Cresa (Nursery School Voucher), ready to enter the market," says Malan.
Tichet Cresa is a type of voucher that mothers of children aged up to three are going to receive from the firms they work for to help them pay for the services related to their children's being cared for in nursery schools. Their value is set by law and revolves around 300 RON (85 euros).
"The legislative framework is not ready yet for this type of services. I believe firms agree with this project, this is something useful. We hope to introduce it by yearend, with the vouchers being valid in any nursery school countrywide," says Malan.
Accor Services last year registered turnover worth 80.9 million RON (22.4 million euros), up approximately 6% year-on-year. During the same period, the company posted gross income worth 72.5m RON (17.9m euros), accounting for a profitability rate of around 80%. Malan says he expects this year's turnover to be about the same. Around 90% of Accor Services business is made up of luncheon vouchers.
"The market is young, it's only seven years old, but it has reached maturity, which is odd for Romania," considers Malan. According to him, the domestic market has already gone through several important stages.
"There was a period of strong development at the beginning, until competition came up. Now, there's a market concentration. This trend is likely to continue, but products are going to diversify," explains Accor Services representative. The luncheon voucher market is put by the main issuers at 700-800 million euros.
Accor Services
Launched products such as luncheon vouchers, cards for discounts in the group's hotels both in Romania and abroad, risk and accident insurance
In 2005 posted turnover worth 80.9m RON (22.4m euros), up around 6% from 2004, amid gross income standing at 72.5m RON (17.9m euros)
Expects similar turnover this year
Was set up in 1998, with Accor French group and CNS Cartel Alfa as its main shareholders
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