ACCOR: FULL-YEAR 2021 RESULTS SIGNIFICANT REBOUND IN ACTIVITY CONFIRMED IN 2021
REVPAR recovery month after month from April continued improvement in operating sensitivity positive cash flow generation over H2 |
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ACCOR: FULL-YEAR 2021 RESULTS SIGNIFICANT REBOUND IN ACTIVITY CONFIRMED IN 2021
REVPAR recovery month after month from April continued improvement in operating sensitivity positive cash flow generation over H2 |
Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2022-02-25
REVENUE UP 36% TO €2,204 MILLION (+34% LFL)
POSITIVE EBITDA AT €22 MILLION
NET PROFIT GROUP SHARE AT €85 MILLION
Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said:
“Despite a disrupted start of the year due to overall health restrictions, 2021 showed significant improvement in our business, as of the spring, with trends picking-up month after month right up to December.
Our solid performances were achieved owing to the strength of our brands, our financial discipline and the sterling efforts of our teams who, throughout the year, demonstrated determination, tenacity and generosity. Thanks to their mobilization, we emerge stronger from this crisis and have gained market shares in all our key regions.
Moreover, our pipeline continues to flourish, with Luxury & Upscale segment representing close to 40% of future openings, a 12-point increase in the past 4 years. As the desire to escape and to resume travelling has never been stronger, we are well underway to make the most of this rebound in all our markets. In 2022, we will continue to unfold our vision of ever-more experience-driven and sustainable tourism, facilitated by digital technologies. Armed with these strengths, we are confident in our capacity to enduringly continue creating value for our partners as well as our shareholders.”
As of April 2021, Accor enjoyed a sequential rebound in business, with RevPAR improving month after month.
This improvement in demand meant that average room rates came close to or, in many destinations at the end of 2021, even exceeded pre-Covid-19 levels.
Although the effects of this unprecedented crisis linked to the Covid-19 pandemic have not yet fully disappeared, all of the Group’s geographies now appear to be well on the way to enjoying more “normative” levels of business.
With Omicron variant outbreak, January marked a pause in the monthly RevPAR improvement seen since April, but February is already a turning point.
During 2021, Accor organically opened 288 hotels, representing 41,000 rooms, resulting in a net growth in the network of 3% over the 12-month period. At the end of December 2021, the Group had a hotel portfolio of 777,714 rooms (5,298 hotels) and a pipeline of 214,000 rooms (1,218 hotels).
For 2022, the Group expects a net unit growth of 3.5%.
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