AccorHotels : H1 2017 Results
Increase in earnings* driven by strong business and dynamic development |
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AccorHotels : H1 2017 Results
Increase in earnings* driven by strong business and dynamic development |
Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2017-07-28
* Revenue up 33.5% to €922 million (+8.3% LFL)
* EBIT up 68.0% to €226 million (+33.9% LFL)
*23,000 rooms opened during the first half (115 hotels)
Full-year 2017 EBIT target between €460 million and €480 million
Sébastien Bazin, Chairman and Chief Executive Officer of AccorHotels, said: AccorHotels' results for first-half 2017 are particularly solid. They reflect growth in our hotel business, the rapid integration of recently acquired brands, our persistently dynamic development and the ramp-up of our new businesses. In this way, we are increasing our market share and consolidating our global leadership while profoundly transforming our business model. The separation of AccorInvest into a stand-alone legal entity has been completed. Discussions about the opening of this business to outside investors are ongoing. Our pursuit of this growth strategy enables us to aim for another year of record growth in 2017.
* AccorHotels results excl. AccorInvest (IFRS 5)
Significant events and strategic transactions in H1 2017
- Solid results in most of the Group's key markets, particularly with the recovery in France & Switzerland
- Development corresponding to 23,000 additional rooms (115 hotels), of which 94% under franchise agreements and management contracts (including 7,000 rooms from Rixos Hotels)
- Portfolio of 4,195 hotels (597,132 rooms) at the end of June 2017 Pipeline of 910 hotels and 167,000 rooms, of which 81% in emerging markets and 45% in the Asia-Pacific region.
AccorInvest
- Approval of the partial contribution of assets held by Accor SA in AccorInvest at the Extraordinary General Meeting of June 30, 2017
- Transfer of the remaining assets to AccorInvest
HotelServices
- Implementation of the strategic partnership with Rixos Hotels in the international resort segment
- Consolidation of AccorHotels’ leadership in Brazil via the signature of an agreement with BHG relating to 26 hotels (approximately 4,400 rooms)
- Acquisition of 40% of Potel & Chabot, French leader in prestige event services
- Acquisition of 31% of Noctis, which specializes in events, foodservice and entertainment.
New businesses
- Acquisition of TravelKeys, consolidating the Group's position as global leader in the luxury serviced home rental market with concierge services
- Acquisition of Availpro, following on from Fastbooking in 2015, creating the European leader in digital services for independent hotels
- Acquisition of VeryChic, a digital platform for the private sale of hotel rooms and apartments, cruises, stays and luxury packages.
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