Strong increase in earnings* in 2017 driven by robust business and very dynamic development
Strong increase in earnings* in 2017 driven by robust business and very dynamic development |
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Strong increase in earnings* in 2017 driven by robust business and very dynamic development
Strong increase in earnings* in 2017 driven by robust business and very dynamic development |
Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2018-02-23
Business volume up 19% to €17.9 billion
Revenue up 17.7% to €1,937 million (+7.9% LFL)
EBIT up 23.9% to €492 million (+10.1% LFL)
Net profit up 66.4% to €441 million
301 hotels and 51,413 rooms openedSébastien Bazin, Chairman and Chief Executive Officer of AccorHotels, said:“AccorHotels’ earnings for 2017 mark another leap in performance, with excellent operating results and record development. The Group continues to benefit from positive market trends with a confirmed increase in volumes. Against this buoyant backdrop, AccorHotels continues to pursue its dynamic trajectory, consolidate its market share and enrich its range of services for customers and partners. The Group has never been so strong. By developing our "augmented hospitality" model, we are at the forefront of an industry that is constantly transforming and has unlimited prospects.”
*AccorHotels Group excluding AccorInvest (IFRS 5)
In 2017, AccorHotels benefited from very strong business in the majority of its key markets, significantly increasing its operating margins and results on the back of tight cost control, the synergies resulting from its acquisition of FRHI and the careful management of digital expenses. Capitalizing on record development with the opening of 51,413 rooms (301 hotels), of which 94% operated under management and franchise contracts (including 10,000 rooms for Rixos Hotels and BHG), the Group ended 2017 with a hotel portfolio of 616,181 rooms (4,283 hotels) and a pipeline of 161,000 rooms (874 hotels), 78% of which in emerging markets and 47% in the Asia-Pacific region.
Solid growth in revenue
Consolidated 2017 revenue amounted to €1,937 million, up 7.9% at constant scope of consolidation and exchange rates (like-for-like) and 17.7% as reported compared with 2016. The difference between the like-for-like and reported changes stems primarily from the consolidation of FRHI and from the new businesses (+12.9%).
Revenue up 17.7% to €1,937 million (+7.9% LFL)
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