2019: Strong results and a successful transformation for Accor (France)
REVENUE UP 16.0% TO €4,049 MILLION (+3.8% LFL) |
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2019: Strong results and a successful transformation for Accor (France)
REVENUE UP 16.0% TO €4,049 MILLION (+3.8% LFL) |
Category: Europe - France - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2020-02-20
EBITDA UP 14.8% TO €825 MILLION (+5.9% LFL)
RECURRING FREE CASH FLOW OF €434 MILLION
NET PROFIT, GROUP SHARE OF €464 MILLION
327 HOTELS AND 45,108 ROOMS ADDED
SHARE BUYBACK PROGRAM: €600 MILLION IN 2020 and €400 MILLION IN 2021
Sébastien Bazin, Chairman and CEO of Accor, commented:
“The Group delivered a record performance again for FY 2019. This is all the more outstanding against a difficult macroeconomic background and in light of our successful transformation, parallel to achieving growth. Today, Accor is more diversified than ever, and a fully asset-light group. Going forward, we will pursue the execution of our strategy, focusing on our roadmap and value creation for shareholders. While these are challenging times for China, our thoughts are with the Chinese people, our teams, our clients and our partners there. As we are actively managing the situation in the region, our focus is on the fundamentals, which are the cornerstone of our business model: the excellence of our 300,000-strong workforce, our powerful brands, our top-performing distribution tools and loyalty programs, our consolidated leadership position in high potential regions, and our highly robust financial position. By leveraging these assets, we are confident in our ability to pursue our growth objectives and enhance sustainable shareholder returns.”
The full-year 2019 results confirm the strength of the asset-light model. The company delivered on its targets despite the uncertain environment. After adding a record 45,108 rooms (327 hotels) on an organic basis during the period, including 12,954 rooms (65 hotels) in the Luxury segment, Accor had a portfolio of 739,537 rooms (5,036 hotels) and a pipeline of 208,000 rooms (1,206 hotels) at December 31, 2019, of which 76% in emerging markets.Strong growth in consolidated revenueConsolidated full-year 2019 revenue totaled €4,049 million, up 3.8% like-for-like (LFL) and up 16.0% as reported compared with full-year 2018.
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