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The world’s number one hotel company’s results exploded last year. The world’s number one hotel RevPAR even slightly exceeded 2019, the pre-covid. It expects further, albeit more limited, growth in 2023.
If its 2022 performance is anything to go by, the nightmare of covid seems to have vanished for the world’s number one hotel company.
Its revenues jumped 80% last year to 4.2 billion euros, on a like-for-like basis, compared to fiscal 2021.
Net income, group share, has exploded by 373% to 402 million euros in 2022, compared with 85 million euros in 2021.
Gross operating profit (EBITDA) has also soared by 2968% to 675 million euros! The very good activity recorded in December has enabled us to exceed the target given in October 2022, i.e. a top end of the range between 610 and 640 million euros. The EBITDA margin has also improved considerably, reaching 16% in 2022 compared with 1% in 2021.
Very dynamic recovery
The end of the year enabled Accor to do better than in 2019 in terms of RevPAR or revenue per available room. This rose 15% overall in the fourth quarter of 2022 compared with the same period in 2019, improving on the third quarter’s performance (+14%). As a result, RevPAR for the full year 2022 increased by 2% compared to fiscal 2019.
“2022 was the year of a very dynamic recovery in tourism and our performance, which grew strongly in all regions, testifies to this rebound,” commented Sébastien Bazin, Accor Group CEO.
Founded in 1967, the Accor group is the world’s leading hotel operator, with more than 40% of the market (excluding France, where it covers one-third of the market), and is the leader in Asia-Pacific, the Middle East-Africa and Latin America.
Once again, a favorable environment
Accor has 5 300 hotels, representing 778 000 rooms in 100 countries, with brands ranging from luxury (Fairmont, Pullman, Raffles, Sofitel, etc.), which account for 26% of its revenues, to mid-range (34%) and economy (Adagio, Ibis, Mercure, Novotel).
Accor’s rebound occurred in an environment that was once again favorable to travel, with the lifting of constraints in many countries and the return of demand. In the first nine months of 2022, 700 million tourists travelled internationally, more than double (+133%) the figure recorded in the same period in 2021. This figure reaches 63% of 2019 levels, while 65% of pre-pandemic levels is expected for all of 2022. Europe was particularly dynamic, welcoming 477 million people between January and September 2022, or 68% of the global total and 81% of pre-pandemic levels.
Accor will submit for approval at the May 17, 2023 Shareholders’ Meeting the payment of an ordinary dividend of 0.71 euro per share.
And based on recent disposals (10.8% stake in Ennismore and shares in H World Group Ltd), the Board of Directors has decided to propose the payment of an exceptional dividend of 0.34 euro per share.
For fiscal year 2023, Accor expects Group RevPAR to increase by between 5% and 9% like-for-like compared with 2022.
The Group’s RevPAR for fiscal year 2023 is expected to increase between 5% and 9% at constant scope of consolidation and exchange rates compared to fiscal year 2022.
Read also >Handwritten Collection: the new Accor Group brand
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The world’s number one hotel company’s results exploded last year. The world’s number one hotel RevPAR even slightly exceeded 2019, the pre-covid. It expects further, albeit more limited, growth in 2023.
If its 2022 performance is anything to go by, the nightmare of covid seems to have vanished for the world’s number one hotel company.
Its revenues jumped 80% last year to 4.2 billion euros, on a like-for-like basis, compared to fiscal 2021.
Net income, group share, has exploded by 373% to 402 million euros in 2022, compared with 85 million euros in 2021.
Gross operating profit (EBITDA) has also soared by 2968% to 675 million euros! The very good activity recorded in December has enabled us to exceed the target given in October 2022, i.e. a top end of the range between 610 and 640 million euros. The EBITDA margin has also improved considerably, reaching 16% in 2022 compared with 1% in 2021.
Very dynamic recovery
The end of the year enabled Accor to do better than in 2019 in terms of RevPAR or revenue per available room. This rose 15% overall in the fourth quarter of 2022 compared with the same period in 2019, improving on the third quarter’s performance (+14%). As a result, RevPAR for the full year 2022 increased by 2% compared to fiscal 2019.
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The world’s number one hotel company’s results exploded last year. The world’s number one hotel RevPAR even slightly exceeded 2019, the pre-covid. It expects further, albeit more limited, growth in 2023.
If its 2022 performance is anything to go by, the nightmare of covid seems to have vanished for the world’s number one hotel company.
Its revenues jumped 80% last year to 4.2 billion euros, on a like-for-like basis, compared to fiscal 2021.
Net income, group share, has exploded by 373% to 402 million euros in 2022, compared with 85 million euros in 2021.
Gross operating profit (EBITDA) has also soared by 2968% to 675 million euros! The very good activity recorded in December has enabled us to exceed the target given in October 2022, i.e. a top end of the range between 610 and 640 million euros. The EBITDA margin has also improved considerably, reaching 16% in 2022 compared with 1% in 2021.
Very dynamic recovery
The end of the year enabled Accor to do better than in 2019 in terms of RevPAR or revenue per available room. This rose 15% overall in the fourth quarter of 2022 compared with the same period in 2019, improving on the third quarter’s performance (+14%). As a result, RevPAR for the full year 2022 increased by 2% compared to fiscal 2019.
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