Accor Reports Historic Financial Performance in 2023

Accor

FILE PHOTO: The logo of French hotel operator AccorHotels is seen on top of the company’s headquarters in Issy-les-Moulineaux near Paris, France, February 17, 2021. REUTERS/Gonzalo Fuentes/File Photo

Accor, the global hospitality leader, has unveiled its remarkable financial achievements for the fiscal year 2023, setting a new record with an EBITDA surpassing EURO 1 billion for the first time in its history. This milestone marks a staggering 49% surge from the previous year. The French powerhouse witnessed a robust growth trajectory, with revenue-per-available-room surging by 23%, culminating in an overall revenue surge of 20% to EURO 5,056 million. Additionally, the company’s net profit group share soared by an impressive 57% to EURO 63 million.

In the Middle East, Africa & Asia-Pacific regions, Accor recorded a noteworthy 19% increase in RevPAR, mirroring a similar growth trend observed in South-East Asia. Notable growth was also witnessed across key markets such as France, the UK, Germany, and the Americas. Furthermore, Accor’s commitment to sustainability was underscored by its recognition with an esteemed “A” rating by the CDP, positioning it among the elite 141 companies globally honored for proactive climate change initiatives.

Sébastien Bazin, Chairman and CEO of Accor, attributed the stellar performance to the dedication and expertise of the Group’s teams, emphasizing the pivotal role played by passionate individuals who epitomize hospitality excellence. Bazin underscored the Group’s diverse growth across segments and geographies, underscoring the strength of its asset-light model, brand desirability, and robust distribution and loyalty frameworks.

The positive financial outlook reflects the resilience of the travel industry, signaling a promising trajectory for 2024 and beyond. With an optimistic outlook, Accor anticipates welcoming approximately 1.5 billion international travelers in 2024. The company remains steadfast in its commitment to sustainable growth, poised to expand its portfolio and enhance operational efficiencies across its ventures.

Bolstered by the backdrop of major international events in 2024, Bazin reiterated Accor’s confidence in navigating the evolving geopolitical landscape. With a bold vision for pioneering and responsible hospitality, Accor aims to create enduring value for its shareholders and partners, positioning itself as an industry trailblazer poised for sustained success.

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