Accor achieves record EBITDA of more than EUR 1 billion for 2023 

The post Accor achieves record EBITDA of more than EUR 1 billion for 2023  appeared first on TD (Travel Daily Media) Brand TD.

Driven by resolutely solid demand in 2023, Accor was able to set new records in terms  of operating and financial performances. All regions and segments enjoyed strong  growth after a year in 2022 marked by the post-Covid pandemic recovery. All  performance indicators were in line or exceeded Group guidance in 2023.

This solid performance and the Group’s confidence in continued business growth enabled  the Group to return a total of €676 million to its shareholders during the year.

RevPAR UP 23% LFL 




Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said: “Accor generated record-high results in 2023, with EBITDA breaking the €1 billion mark  for the first time in its history. While there were numerous reasons for this success, the  solid performances were above all attributable to the Group’s teams. I would like to  thank them for their commitment and their know-how in an industry whose strength lies  above all in the women and men on the ground daily who raise the profile of our brands  with a passionate and generous sense of hospitality. Over the past year, the Group  achieved growth in all segments and geographies, illustrating the strength of its  asset light model, the efficiency of its organization based on the two divisions, Premium,  Midscale and Economy on the one hand, and Luxury and Lifestyle on the other, the  desirability of its brands, the strength of its distribution and loyalty tools, as well as its  financial discipline.  While the geopolitical backdrop remains complex, 2024 is set to be rich in major  international events which should continue to fuel growth and we start this new year  with confidence. Accor is ideally positioned to continue its bold expansion and bring to  life its vision of a pioneering, responsible hospitality industry that creates value for its  shareholders and its partners.”

Fourth quarter RevPAR 

The Premium, Midscale and Economy (PM&E) division grew its RevPAR by 12%  versus Q4 2022, still driven more by prices than the rise in occupancy rates.

The Europe North Africa (ENA) region posted RevPAR up 8% relative to Q4  2022.

In France, which represents 43% of the region’s room revenue, RevPAR  growth stabilized. The Paris region has been impacted by an unfavorable  calendar levelled off with major events in 2023, such as the Paris Motor Show,  the SIAL food show and the SIMA Agriculture show, which did not take place  during the year. The provinces continued to enjoy steady business levels.

The United Kingdom, which represents 13% of the region’s room revenue,  posted solid and balanced growth in RevPAR between London and other  cities.

In Germany, 14% of the region’s room revenue, RevPAR continued to  improve compared with previous quarters, notably thanks to Christmas  markets. Nevertheless, occupancy rates still harbor strong upside potential.  Indeed, they remain significantly behind pre-crisis levels.

The Middle East, Africa & Asia-Pacific region reported a 19% increase in  RevPAR compared with Q4 2022, benefiting from a considerable rebound in  business in Asia.

The Middle East Africa, 26% of room revenue in the region, continued to  apply strong price increases buoyed by steady Leisure demand despite the  conflict in Israel.

South-East Asia, 29% ofroom revenue in the region, saw RevPAR growth  comparable to the Middle East, mainly driven by prices and supported by  Leisure demand.

The Pacific, 26% of room revenue in the region, is now entering a  normalization phase with more measured RevPAR growth, driven by  occupancy rates in the fourth quarter.

In China, 19% of hotel room revenue in the region, the recovery continued  with marked RevPAR growth compared with Q4 2022. Business is now slightly  higher than the level seen in 2019, as was the case in the third quarter.

The Americas region, which mainly reflects the performances of Brazil (65% of  room revenue for the region), reported RevPAR growth up 15% compared with  Q4 2022. Business continued to benefit from price increases, notably supported  by congresses and events which took place over the period.

The Luxury & Lifestyle (L&L) division reported an 8% increase in RevPAR compared  with Q4 2022, driven mainly by higher occupancy rates.

The Luxury segment, which accounts for 77% of the division’s room revenue,  posted a 10% increase in RevPAR compared with Q4 2022. This increase was  driven by the Asia-Pacific region where growth was robust. Although occupancy  rates improved clearly, they are still lagging pre-crisis levels by 5 points.

Lifestyle RevPAR was stable compared with Q4 2022. The more rapid recovery  in this segment in 2022 led to a less favorable basis of comparison, amplified by  the soccer World Cup which took place in Qatar in Q4 2022. Adjusted from this  event, RevPAR in the Lifestyle segment increased by 6% over the quarter.

The post Accor achieves record EBITDA of more than EUR 1 billion for 2023  appeared first on Brand TD.


We will be happy to hear your thoughts

Leave a reply

New World Tours
Shopping cart