Pushed by strong demand in 2023, Accor managed to set new information when it comes to operational and monetary efficiency. All areas and segments loved robust progress after 2022 marked by restoration from the Covid pandemic. All efficiency indicators have been according to or exceeded the Group’s 2023 steerage.
This strong efficiency and the Group’s confidence within the continuation of enterprise enabled the Group to return a complete of 676 million euros to its shareholders through the 12 months.
RevPAR INCREASED 23% LFL
REVENUE DECLINED 20% TO EUR 5,056 MILLION
EBITDA INCREASED 49% TO EUR 1,003 MILLION
THE GROUP’S SHARE IN NET PROFIT INCREASED 57% TO EUR 633 MILLION
Sébastien Bazin, President and CEO of Accor, mentioned: “Accor achieved document excessive leads to 2023, with EBITDA breaking the 1 billion euro mark for the primary time in its historical past. Though there have been many causes for this success, the strong efficiency can primarily be attributed to the Group’s groups. I wish to thank them for his or her dedication and their data of an trade whose energy lies in the beginning within the men and women on the bottom who elevate the profile of our manufacturers daily with a passionate and beneficiant sense of hospitality. Over the previous 12 months, the Group has achieved progress in all segments and geographies, illustrating the energy of its asset-light mannequin, the effectivity of its group based mostly on two divisions, Premium, Midscale and Economic system on the one hand, and Luxurious and Life-style on the opposite. the second, the desirability of its manufacturers, distribution energy and loyalty instruments, in addition to monetary self-discipline. Though the geopolitical background stays advanced, 2024 can be wealthy in main worldwide occasions that ought to proceed to spice up progress, and we begin this new 12 months with confidence. Accor is ideally positioned to proceed its daring growth and convey to life its imaginative and prescient of a pioneering, accountable hospitality trade that creates worth for its shareholders and companions.”
Fourth quarter RevPAR
The Premium, Midscale and Economic system (PM&E) the division elevated its RevPAR by 12% in comparison with the fourth quarter of 2022, nonetheless pushed extra by costs than by will increase in occupancy charges.
The Europe North Africa (ENA) the area recorded RevPAR progress of 8% in comparison with This autumn 2022.
IN France, which represents 43% of room income within the area, RevPAR progress has stabilized. The Paris area was hit by an unfavorable calendar leveled with main occasions in 2023, such because the Paris Motor Present, the SIAL meals honest and the SIMA agricultural honest, not going down through the 12 months. The provinces continued to have a secure stage of enterprise.
The United Kingdomrepresenting 13% of room income within the area, noticed strong and balanced RevPAR progress between London and different cities.
IN Germany, 14% of regional room income, RevPAR continued to enhance in comparison with earlier quarters, significantly due to the Christmas markets. Regardless of this, occupancy charges nonetheless conceal robust progress potential. Certainly, they’re effectively behind pre-crisis ranges.
The Center East, Africa and Asia-Pacific the area reported a 19% improve in RevPAR in comparison with the fourth quarter of 2022, due to a big restoration in enterprise in Asia.
The Center East Africa26% of income from rooms within the area, continued to use robust value will increase pushed by secure demand for leisure regardless of the battle in Israel.
Southeast Asia29% of room income within the area, noticed RevPAR progress corresponding to the Center East, primarily pushed by costs and supported by leisure demand.
The the Pacific26% of room income within the area, now coming into a normalization part with extra measured progress in RevPAR, pushed by the occupancy price within the fourth quarter.
IN China19% of lodge room income within the area, the restoration continued with a pronounced improve in RevPAR in comparison with the fourth quarter of 2022. Enterprise is now barely above the extent recorded in 2019, as was the case within the third quarter.
The America area, which primarily displays the efficiency of Brazil (65% of room income for the area), reported RevPAR progress of 15% in comparison with the fourth quarter of 2022. The enterprise continued to profit from value will increase, significantly due to congresses and occasions that maintained through the interval.
The luxurious and life-style (L&L) division reported an 8% improve in RevPAR in comparison with the fourth quarter of 2022, primarily attributable to larger occupancy charges.
The Luxurious the section, which accounts for 77% of the division’s income from rooms, recorded a RevPAR improve of 10% in comparison with the fourth quarter of 2022. This improve was pushed by the Asia-Pacific area the place progress was robust. Though occupancy charges have clearly improved, they’re nonetheless 5 factors behind pre-crisis ranges.
Life-style RevPAR was secure in comparison with the fourth quarter of 2022. The quicker restoration on this section in 2022 led to a much less favorable foundation for comparability, strengthened by the FIFA World Cup held in Qatar within the fourth quarter of 2022. Adjusted for this occasion, RevPAR in lifetime the type section grew by 6% through the quarter.