Hotel giant Accor has reported a “solid and sustainable” rebound in activity in 2022, with €4,224 million in revenue, which marked an 80 per cent increase on 2021 full-year results, and four per cent higher than 2019.
Consolidated revpar (revenue per available room) exceeded 2019 levels in several markets in the last quarter of 2022, including key destinations across Europe, while group revpar for the full year was two per cent higher than in 2019.
Consolidated EBITDA for the year stood at €675 million, compared with €22 million in 2021, while net profit for the group was €402 million, compared with €85 million in 2021.
The France-based company said EBITDA exceeded the targets owing to “robust business activity” in December, and that group revpar for 2023 is expected to increase between five per cent and nine per cent.
“We exceeded our financial and non-financial targets and can look to the future with serenity,” said Accor chairman and CEO Sébastien Bazin.
“In 2023, our ambition is to keep our growth and reinforce our leadership by continuing to evolve the codes of the hospitality industry and remain the chosen partner of our hotel owners and customers,” he added.
HotelServices, which includes management and franchise fees, generated €3,194 million in revenue, up 89 per cent on FY 2021 and a five per cent increase on 2019.
The group’s properties in southern Europe, driven by France, reported a 12 per cent increase in revpar in Q4 2022 compared to the same period in 2019. Revpar for FY 2022 exceeded that of 2019 by three per cent.
In France, revpar was up 13 per cent in Q4 2022 compared with Q4 2019, largely driven by Paris. In Spain, revpar was up five per cent in Q4 2022 versus Q4 2019.
Northern Europe posted a five per cent increase in revpar in Q4 2022 versus Q4 2019, however full-year revpar was six per cent lower than 2019 due to a decline in business activity in Germany, attributed to lower attendance at trade fairs and conventions in Q4.
In the UK, revpar remained “solid” and increased from the previous quarter, with London and surrounds delivering a “comparable performance” despite a series of crippling rail strikes and border force strikes.
Revpar in Asia Pacific improved by three percentage points between Q3 and Q4 and FY 2022 revpar was 18 per cent lower than 2019, due to the delayed reopening of China’s international borders, but offers the “largest recovery potential” in 2023.
In India, the Middle East, Africa, and Turkey, business benefited from the Soccer World Cup in Qatar in November and December, with revpar 73 per cent higher in Q4 2022 than in Q4 2019.
Revpar also improved across the Americas, increasing 18 per cent in Q4 2022 compared with Q4 2019. Full-year revpar for the region was five per cent higher than in 2019.
Meanwhile, the company’s ‘hotel assets and other’ segment, which includes concierge services and luxury home rentals, and is largely linked to business in Australia, generated €1,084 million.
The hotel group announced plans last summer to reorganise its business into two divisions: “Premium, Midscale & Economy” and “Luxury & Lifestyle” in an effort to “accelerate growth”.
In November 2022, the company also sold a 10.8 per cent stake in its Ennismore joint venture to a group of Middle Eastern investors for €185 million
Accor opened 299 hotels last year and, as of December 2022, the group had a portfolio of 5,445 hotels and a pipeline of 1,247 hotels.
Fuente: businesstravelnewseurope.com
