ACCOR: FULL-YEAR 2022 RESULTS SOLID AND SUSTAINABLE REBOUND IN ACTIVITY IN 2022
Sustainable revpar recovery above pre-pandemic level |
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ACCOR: FULL-YEAR 2022 RESULTS SOLID AND SUSTAINABLE REBOUND IN ACTIVITY IN 2022
Sustainable revpar recovery above pre-pandemic level |
Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2023-02-24
Fy 2023 group revpar expected up between 5% and 9% lfl yoy
Return of dividend distribution at €1.05 per share
- Revenue up 92% to €4,224 million (+80% lfl)
- Ebitda surge above the guidance at €675 million
- Net profit group share at €402 million
Sébastien Bazin, Chairman and Chief Executive Officer of Accor, said:
“Tourism recovered substantially in 2022 and our performances, up strongly in all regions, reflected that rebound.
We exceeded our financial and non-financial targets and can look to the future with serenity. Our brands are attractive, our distribution is powerful, our teams are talented and motivated, and our organization has been adapted to capture future growth even more effectively.
These strengths combined with the genuine culture of the Group, placing people and talents in the heart of its model, give meaning to our action. In 2023, our ambition is to keep our growth and reinforce our leadership by continuing to evolve the codes of the hospitality industry and remain the chosen partner of our hotel owners and customers.”
After two years severely impacted by the health crisis, the fiscal-year 2022 posted a solid and sustainable rebound in Group’s activity.
The performance of hotels over the second half of the year surpasses pre-crisis levels in almost all our regions.
Only Asia, a region impacted by China's strict zero-Covid policy until year end, is still significantly below 2019 activity levels.
Worldwide, our recovery was primarily driven by domestic guests, with levels exceeding those of 2019. Whereas international travelers, even whose number grows sharply, failed to return to the level of 2019. As observed in recent quarters, the recovery was led by a strong increase in prices, fueled by demand and accentuated by inflation.
In 2022, Accor opened 299 hotels, corresponding to 43,000 rooms, accounting in a net organic growth in the network of 3.2% over the 12-month period. At end-December 2022, the Group had a hotel portfolio of 802,269 rooms (5,445 hotels) and a pipeline of 216,000 rooms (1,247 hotels).
Consolidated revenue
In 2022, the Group recorded a revenue of €4,224 million, up 80% like-for-like (LFL) versus FY 2021.
This growth breaks down into an improvement of 89% for HotelServices and 63% for Hotel Assets & Other. To provide a RevPAR comparison (presented as the change versus FY 2019 throughout this release), the Group reported an increase of 4% in LFL revenue versus FY 2019.
Changes in the scope of consolidation (acquisitions, disposals and reopenings) contributed positively with €72 million mainly due to the takeover of Paris Society and the reopening of the Pullman Montparnasse.
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