Accor: Q3 2019 Revenue of €1,049 million
+10.9% as reported |
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Accor: Q3 2019 Revenue of €1,049 million
+10.9% as reported |
Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2019-11-07
+4.1% like for likeFull-year 2019 EBITDA target between €820 million and €840 millionSébastien Bazin, Chairman and CEO of Accor, commented: “Accor’s third quarter performance was solid, validating the quality of its asset-light model in a mixed international environment. The Group once again generated solid revenue growth with steady supply growth and a record-setting pipeline. At the same time, Accor continued to execute its strategy, making progress on the sale of its remaining real estate activities, and on the launch of ALL, the Group’s new distribution platform and loyalty program, in the near future.”
Group revenue in third-quarter 2019 was €1,049 million, up 10.9% as reported and 4.1% on a like-for-like basis.
RevPAR increased by 0.7%, with performances varying by region: Europe was relatively resilient (+1.2%), while Asia-Pacific recorded a slight decline (-1.1%), mainly due to the environment in China.
Changes in the scope of consolidation (acquisitions and disposals) had a positive impact of €49 million (+5.2%), largely due to the contributions of Mövenpick, which has been consolidated since September 2018.
Currency effects had a positive impact of €15 million (+1.6%), mainly owing to the appreciation of the US dollar against the euro (+4.4%).
During the third quarter, Accor opened 60 hotels with 8,500 rooms. At end-September 2019, the Group's portfolio totaled 726,345 rooms in 4,946 hotels and the pipeline represented 1,181 hotels corresponding to 205,000 rooms.Strong growth in consolidated revenueConsolidated third-quarter 2019 revenue totaled €1,049 million, up 4.1% like-for-like (LFL) and up 10.9% as reported compared with third-quarter 2018.
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