First-half 2018 results of AccorHotels: Robust business and dynamic development
Business volumes of €8.9 billion, up 10.3% at constant exchange rates |
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First-half 2018 results of AccorHotels: Robust business and dynamic development
Business volumes of €8.9 billion, up 10.3% at constant exchange rates |
Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2018-07-27
Revenue of €1,459 million, up 8.0% like for like
EBITDA of €291 million, up 4.2% like for like
Net profit of €2,179 million following the sale of a stake in AccorInvest
301 hotels and 45,150 rooms opened
Sale of an additional 7% stake in AccorInvest for €250m
Full-year 2018 EBITDA target between €690 million and €720 million
Sébastien Bazin, Chairman and Chief Executive Officer of AccorHotels, said:
The first half of 2018 saw AccorHotels continue the deep-seated transformation of its business model, with the sale of a majority stake in the capital of AccorInvest, the integration of Mantra in Australia and Mantis in South Africa, and the acquisition of Gekko in France. The second half of the year will see Mövenpick in Middle East, Atton in South America and sbe in the US join our network, enabling us to consolidate our market shares and the vast array of choices we offer our customers. The Group’s strong operating performance delivered solid results in first-half 2018 and record organic growth with the opening of 20,000 rooms over the period. Today, AccorHotels operates more than 4,500 hotels and 650,000 rooms around the world, the majority of which are located outside Europe. Underpinned by a reinforced pipeline, the Group’s strong prospects mean it is firmly on track to achieving its medium-term targets.
AccorHotels benefited from solid business levels in most of its key markets in the first half of 2018. With the opening of 45,150 rooms (301 hotels) during the period, of which 19,757 through organic growth and 25,393 via the acquisitions of Mantra and Mantis, at June 30, 2018 the Group had a portfolio of 652,939 rooms (4,530 hotels) and a pipeline of 167,000 rooms (959 hotels), of which 79% in emerging markets.
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