Accor has published its half-year results, reporting a rebound which “reflects both the recovery of the number of business and leisure domestic guests, and border reopenings which accelerated the return of international travellers”.
Second quarter figures were particularly encouraging, with activity “close to, if not above” 2019 levels in almost all markets. The group highlighted London and Paris, where RevPAR figures were above 2019 levels.
The exceptions to the above were China, which continued to be impacted by travel restrictions, and South East Asia, which the group said was “highly dependent on Chinese visitors”.
Revenue for the first half was €1,725 million, up 97 per cent on the same period in 2021, resulting in an operating profit of €97 million.
Accor said that it opened a total of 85 properties in the first half of this year, equating to 11,700 rooms and contributing to a 1.8 per cent net growth in the last 12 months.
Openings included the group’s first property under its business-oriented Pullman brand in Georgia, and its first M Gallery property in Hong Kong.
Commenting on the news Sébastien Bazin, chairman and chief executive officer of Accor, said:
“Once again this quarter, Accor reported a very strong growth in business, exceeding pre-crisis levels for the first time. This marked rebound in all regions and for all of our brands.
“The summer will confirm these trends and the fall promises to be strong with the recovery of major seminars and conventions. Nevertheless, the Group remains attentive to the evolution of the geopolitical and economic environment.
“At this stage, the Group should report a strong growth in EBITDA, with a target of more than €550 million for the full-year 2022.”
